SKIP TO MAIN CONTENT
Logo
  • Login Client Portal
  • Team Directory
  • MOBILE APP
  • REVIEWS
  • Get Pre Approved
  • FAQ VIDEOS
  • LOAN PRODUCTS
    • Conventional Loan
    • Fix and Flip Loan
    • Refinance Loan
    • USDA Loan
    • Reverse Mortgage
    • Renovation Loan
    • VA Loan
    • Jumbo Loan
    • FHA Loan
    • Down Payment Assistance
  • Calculators
    • Payment Amortization
    • Rent vs Own
    • Annual Percentage Rate
    • Debt Consolidation
    • Prepayment Savings
    • Early Payoff
    • Refinance Break Even
    • Tax Savings
  • Contact Us
  • Log In

Reverse Mortgage

What is a reverse mortgage?

You’ve invested years in your home, now discover the rewards! A reverse mortgage is a type of home equity loan for senior homeowners that may allow you to convert some of the equity in your home into cash while you retain homeownership. Instead of making monthly mortgage payments like a traditional home loan, Reverse Mortgages are paid back in one lump sum when the borrower no longer resides in the home1.

A refinance or Reverse Mortgage for purchase is often decided upon with input from family members and financial professionals, such as a CPA or Attorney, to ensure that if fits your current and future financial plans. Our loan officers specializing in Reverse Mortgages understand the importance of working with everyone involved in the process and are dedicated to helping you make the right decisions for your specific goals.

Can I qualify for a reverse mortgage?

Qualified applicants must be at least 62 years old and occupy the home as their primary residence. There are no employment or health requirements and you must meet financial eligibility criteria as established by the HUD.

A Reverse Mortgage does require someone with experience, patience and understanding to help you determine if your specific goals can be met through one, so contact your local loan officer today.

How much is the down payment for a reverse mortgage?

Reverse Mortgages are a bit different than traditional mortgages and the amount of money that you would be required to put down varies depending on your situation.

You can pay for most of the costs of a HECM by financing them and having them paid from the proceeds of the loan. Financing the costs means that you do not have to pay for them out of your pocket. On the other hand, financing the costs reduces the net loan amount available to you.

GET PRE-APPROVED

Payment / Amortization Calculator

Calculate your monthly payment for fixed rate or adjustable rate loans.

Loan Type

Default amounts are hypothetical and may not apply to your individual situation. This calculator provides approximations for informational purposes only. Actual results will be provided by your lender and will likely vary depending on your eligibility and current market rates.

Results

Monthly Payment

$0.00

Initial Monthly Payment

$0.00

Maximum Monthly Payment

$0.00
See Full Report Below
  • CLIENT REVIEWS
  • Company State Licenses
  • Privacy Policy

NMLS     |     FAIR LENDER     |     FAIR HOUSING

“Licensed by the NJ Department of Banking and Insurance, Pennsylvania Department of Banking and Securities, Florida Office of Financial Regulation.  NMLS #195400

© Copyright 2016 EVESHAM MORTGAGE. "Preparing you for generations to come."

103 Route 70 East. Suite 2

Marlton, NJ 08053

(856) 985-9944

NMLS     |     FAIR LENDER     |     FAIR HOUSING

“Licensed by the NJ Department of Banking and Insurance, Pennsylvania Department of Banking and Securities, Florida Office of Financial Regulation.  NMLS #195400

© Copyright 2016 EVESHAM MORTGAGE. "Preparing you for generations to come."