Benefits of a Reverse Mortgage
Discover the advantages of a reverse mortgage and determine if it aligns with your financial goals.
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- Benefits Of A Reverse Mortgage
Discover the benefits
Homeowners 62 and older can explore a reverse mortgage to access the equity in their home and improve their retirement finances. This loan allows you to stay in your home while receiving cash as a lump sum, monthly advances, line of credit, or a combination. Factors like age, home value, interest rates, and financial health determine eligibility. Government-insured reverse mortgages require HUD counseling before application and won’t affect Social Security or Medicare benefits. Consider a reverse mortgage to potentially supplement your retirement income and age in place.