Are you struggling with the increased costs of maintaining your home? If expenses are increasing and your income is not keeping up with the cost of living, a reverse mortgage may be the answer if you are 62 years of age or older and want to stay in your home.
You may use the equity in your home to pay off debts, taxes, provide home care, fund home improvements, increase cash flow, or for any other reason.
Important Facts About Reverse Mortgages: Did You Know?
- The title remains in your name.
- Proceeds are not taxable.
- Credit is not a factor.
- You pay minimal upfront costs that may be financed using the loan proceeds.
- The loan is paid back when your house is sold later on down the road.
Reverse mortgage loans are federally insured by the Federal Housing Authority and, if you sell your home, the remaining equity is yours to keep. Reverse mortgages available through our alliance with FB Mortgage Partners. Call 1-866-982-5657 to speak with a friendly representative who will answer your questions and put your mind at ease.*
*A reverse mortgage is a complex loan secured by your home. Whether such mortgages make sense for you depends on your financial situation and needs. For these reasons, we strongly recommend that you consult with a qualified, independent housing counselor, family members and other trusted advisors before making this decision. There are some circumstances that will cause the loan to mature and the balance to become due and payable. Borrower is still responsible for paying property taxes and insurance. Credit is subject to change and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change. NMLS # 402599 NCUA#1404
- Mailing address
P.O. Box 9006
Westbury NY 11590-9809
865 Merrick Avenue, Suite 250N
Westbury, NY 11590-9006
Phone (516) 742-4900 or Fax (516) 240-1246
- Routing Number #2214-7668-8