There is a good chance that if you’re a homeowner 62 years of age or older you are at least somewhat familiar with reverse mortgages. Maybe you’ve read some articles about the loan or have watched a program or two concerning reverse mortgages and have been considering this option as a means to supplement your income for retirement yet you’re still not sure if it’s the right thing to do.
Those feelings are natural as you have already made a number of sacrifices to build equity in your home and you want to make sure that investment is protected. Bank of Internet USA, America’s oldest and most trusted Internet bank, understands that a homeowner may have some reservations about a reverse mortgage loan and that is why they have a team of reverse mortgage specialists dedicated to informing and educating homeowners about the loan.
Speaking with a reverse mortgage specialist at Bank of Internet USA, a homeowner can quickly get the answers to any questions they may have about a reverse mortgage loan program. These specialists will outline the program, providing highlights that include the fact that you retain ownership of your home with reverse mortgage; you have the option of not making any loan payments for the time you live in your home; and you are able to refinance or sell your home at any time without penalty.
Along with these highlights qualified homeowners gain access to additional income based exclusively on the equity they have built in their home. Because reverse mortgages are based on that equity the application process is much easier than other types of loans, there are no credit checks or income requirements, it’s all about how much money you have put into your home.
To learn more about how a reverse mortgage can provide the financial means necessary to enjoy your retirement speak with a reverse mortgage specialist at Bank of Internet USA today.