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With the most common type of reverse mortgage loan, also known as a home equity conversion mortgage (HECM), borrowers 62 years and up can access their home equity without having to make monthly mortgage payments.* There are also proprietary reverse mortgage solutions for accessing more cash for higher home values.
Learn how an AAG reverse mortgage —or other home equity retirement solution— could help you build a more financially secure retirement. Call us today.
What is a reverse mortgage loan? Reverse mortgages are government-insured loans that allow seniors above the age of 62 to access the equity in their homes and receive it as cash to use. The key benefit is that borrowers get to stay in their homes until the loan matures, or as long as they comply with all loan terms.
What is a reverse mortgage loan? A reverse mortgage is a unique financial tool unlike any other in that it offers borrowers the ability to access their home equity without the burden of monthly mortgage payments.¹ Using a reverse mortgage, you can access cash to supplement your income in retirement and age in place in your home.
Our reverse mortgage loan calculator works by determining your eligibility and the amount you could potentially be eligible for based on several factors such as your home value, any existing mortgage balance, and your age.
In addition to determining that a reverse mortgage makes economic sense, before pursuing a reverse mortgage, borrowers need to meet the following requirements. Borrowers Meet the Minimum Age Requirement To qualify for an FHA-approved reverse mortgage, borrowers must be 62 years or older (proprietary mortgage product age requirements can vary ...
Sep 14, 2023 · AAG Reverse Mortgage Loan Types; Factors To Consider With AAG Reverse Mortgages; Rates; Borrower Experience; Availability; AAG Reverse Mortgage vs. Competitors; Why You Should Trust Benzinga
