reverse MORTGAGE loans

features and details

REVERSE MORTGAGE LOANS

features and details
A reverse mortgage is a loan that enables homeowners who are at least 62 years old to convert some of their home equity into cash, a line of credit, or to finance a home purchase with the freedom of no monthly mortgage payments. The borrowers continue to live and own their home.
I would like to find out about a reverse mortgage

Features and Details

  • All titleholders must be 62 or older
  • The home must be the borrowers’ primary residence and must meet Federal Housing Authority (FHA) minimum property standards
  • Subject to home equity
  • Available for new construction
  • Owners retain full ownership of their home and can sell it at any time
  • Proceeds available in a lump sum, monthly payments for a specified time period, a line or credit, or a combination of these
  • Loan limits up to $726,525 for FHA-insured HECM loans
  • No monthly repayment required

Equal Housing Opportunity logoAll loans are subject to credit and property approval. Programs, rates, terms and conditions are subject to change without notice. Not all products are available in all states or for all loan amounts. Other restrictions apply.

Goldwater Bank, N.A. - Mortgage Division | Corporate NMLS# 452955 | Equal Housing Opportunity

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A reverse mortgage is a loan that enables homeowners who are at least 62 years old to convert some of their home equity into cash, a line of credit, or to finance a home purchase with the freedom of no monthly mortgage payments. The borrowers continue to live and own their home.
I would like to find out about a reverse mortgage

Features and Details

  • All titleholders must be 62 or older
  • The home must be the borrowers’ primary residence and must meet Federal Housing Authority (FHA) minimum property standards
  • Subject to home equity
  • Available for new construction
  • Owners retain full ownership of their home and can sell it at any time
  • Proceeds available in a lump sum, monthly payments for a specified time period, a line or credit, or a combination of these
  • Loan limits up to $726,525 for FHA-insured HECM loans
  • No monthly repayment required

Equal Housing Opportunity logoAll loans are subject to credit and property approval. Programs, rates, terms and conditions are subject to change without notice. Not all products are available in all states or for all loan amounts. Other restrictions apply.

Goldwater Bank, N.A. - Mortgage Division | Corporate NMLS# 452955 | Equal Housing Opportunity

Important Information About Opening a New Account                   Privacy Policy                      NMLS Consumer Access