Reverse Mortgages

Are you looking for a new mortgage? We'd be thrilled to answer your questions about our many mortgage solutions! Call us at 5626935048. Want to get started? Apply Online Now.

Reverse mortgages (sometimes called "home equity conversion loans") enable older homeowners to use their home equity without selling their home. Deciding how you would prefer to be paid: by a monthly payment, a line of credit, or a one-time payment, you can get a loan based on your equity. The borrowed money does not have to be repaid until the borrower sells the residence, moves away, or passes away. You or representative of your estate must repay the reverse mortgage amount, interest accrued, and other finance fees when your property is sold, or you are no longer living in it.

Who is Eligible?

The requirements of a reverse mortgage loan typically include being sixty-two or older, using the house as your main residence, and having a low balance on your mortgage or having paid it off.

Many homeowners who live on a fixed income and find themselves needing additional money find reverse mortgages ideal for their circumstance. Social Security and Medicare benefits can't be affected; and the money is not taxable. Reverse Mortgages may have adjustable or fixed rates. Your home will never be at risk of being taken away from you by the lender or sold against your will if you live longer than the loan term - even if the current property value dips below the balance of the loan. If you'd like to learn more about reverse mortgages, feel free to contact us at 5626935048.

Nationwide Home Loans can walk you through the pitfalls of getting a reverse mortgage. Give us a call: 5626935048.

Mortgage Questions?

Do you have a question regarding a mortgage program?

Contact Information
Your Question
By checking the box, you agree that Nationwide Home Loans may call/text you about your inquiry, which may involve use of automated means and prerecorded/artificial voices.. Message/data rates may apply.

Nationwide Home Loans

NMLS #238531| CA BRE #01017101

16211 Whittier Blvd.
Whittier, CA 90603