You may qualify for a
Reverse Mortgage.

Improve your

retirement

With a

reverse mortgage

Reverse Refinance

Refinancing an existing reverse mortgage allows you to convert the equity in your home into a lump-sum payment, monthly income, or a line of credit.

No refinance payments are made on the loan until you no longer occupy the home as your primary residence. When you move or sell your home, the loan balance is due and payable. However, the loan balance is never allowed to exceed the value of your home.

What are the eligibility requirements for a reverse mortgage refinance?

  • You and all co-borrowers must be a minimum of 62 years old.
  • The home should have a very low mortgage balance or be owned free and clear.
  • The home must be owner-occupied. FHA-approved condominiums and two- to four-unit dwellings (owner occupied) are also eligible.

The allowable refinance equity is calculated based on three factors:

  • The youngest borrower's age
  • The appraised value of your home
  • The FHA maximum loan limit for your county

What fees are involved in a reverse mortgage refinance

  • origination fee
  • appraisal fee
  • title fee
  • escrow fee
  • recording fee
  • monthly servicing fee

Requirements of a reverse mortgage refinance

  • occupy the property as primary residence
  • responsible for maintenance
  • insurance
  • taxes
  • no deficiency judgments

You can still refinance your home even if it needs repair, providing you or your equity can pay for the repairs. Some repairs can even be done after you complete the refinance.

TO MAKE IT SIMPLE THE BEST WAY TO IMPROVE YOUR RETIREMENT IS TO
UTILIZE A REVERSE MORTGAGE. THE REASONS ARE SIMPLE AND ARE AS FOLLOWS.

  • Stop Paying Your Monthly Mortgage Payment
  • No Medical Requirements
  • No Income Requirements
  • No Credit Requirements to Qualify
  • Stop Worrying About Mortgage Payment and Increase your Cash Flow
  • Title Remains in Your Name as Long as You Live in the Home
  • The Lender Pays the Homeowner TAX Free Payments "REVERSE MORTGAGE"
California Real Estate

Improve Retirement (949) 732-0342

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