If you are 55 years or over there is a good chance your home has increased in value over the years and you could be eligible for a reverse mortgage.
A reverse mortgage is for homeowners age 55 years or older, you could receive up to 55% of your home equity as a reverse mortgage. The income is tax free and there are no monthly mortgage payments unless you want to make one.
With a reverse mortgage you can pay your bills, upgrade your home, and have cash flow to spend on anything you want. You can take the money all at once or as you need it and you will only pay interest on the amount you have used.
You will always maintain ownership of your home and you will never be forced to more or sell. Repayment of the loan is only required when you move or sell your home.
To find out how much you are you are entitled to call a Sunlite Mortgage Reverse Mortgage agent and we will verify your information and answer any questions you may have.
Once approved you could receive your money in a Lump sum or multiple installment payments.GET YOUR FREE ESTIMATE
The first steps in buying a house are ensuring you can afford to pay at least 5% of the purchase price of the home as a down payment and determining your budget. This calculator steps you through the process of finding out how much you can borrow. Fill in the entry fields and click on the payment schedule button to see a complete amortization schedule of your mortgage payments.Calculate Now