Homeownership has always been considered one of the biggest investments an individual will ever make in their life. As such, many individuals rely on that investment as a source for financial security when they need it most for those homeowners 62 years of age or older they can draw on that investment through a reverse mortgage.
What reverse mortgages allow a homeowner to do is capitalize on the equity they have already built in their home, providing them access to money based on the amount they have put into their house. By opting for a reverse mortgage loan qualified applicants can then use that money for whatever reason they want.
At Bank of Internet USA, America’s oldest and most trusted Internet bank, qualified homeowners will find a team of reverse mortgage specialist dedicated to providing them with the education and information necessary to determine if a reverse mortgage is right fit for their needs.
By outlining the benefits associated with reverse mortgages, benefits 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, a homeowner may discover that this loan program is the perfect option to supplement their retirement income.