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Refinance A Mortgage

Utilizing A Reverse Mortgage

Advantages of Using a Reverse Mortgage to Refinance A Mortgage

One of the more common choices among borrowers is to utilize a reverse mortgage to pay off their existing mortgage. This can increase your immediate funds available or cash flow since a reverse mortgage will not require the borrower to make monthly mortgage payments. This product is available on a primary residence only, the amount you are eligible for is determined by factors including date of birth and appraised value of the home.

If the amount available on a reverse mortgage exceeds the amount required to satisfy an existing mortgage, that equity can be available at a predetermined time and in various forms including cash, a line of credit or structured payments. As with all mortgages you will be responsible for keeping taxes, Home Owner Dues and Insurance paid and current.

Calculate the Funds You May Receive With Our Refinance Mortgage Calculator