Enjoying Retirement Begins at Home

With a reverse mortgage, you can continue enjoying retirement—from the comfort of home.

Reverse mortgages allow you to access a portion of the available equity in your home without having to sell the home, give up the title or incur an additional mortgage payment. Your home still belongs to you; you must continue paying property taxes and insurance. Social Security and Medicare benefits are not affected; plus, there are generally no income or credit score requirements*.

You can use the proceeds however you wish, such as to help cover:

• Medical expenses or in‐home care
• Home improvements
• Supplemental retirement income

A Reverse Mortgage Allows You to:

• Remain in your home as the homeowner
• Owe no monthly reverse mortgage payment (taxes and insurance still due)
• Use the proceeds as you see fit
• Generally, no credit score or income requirements*
• Continue Social Security and Medicare benefits

Free consultation for more information. $250 off closing offer is valid on new applications taken online only. Ask your reverse mortgage consultant for details.

Do I Qualify?

The most popular reverse mortgage is a Home Equity Conversion Mortgage (HECM), insured by the FHA. Their requirements are the following:

• You are at least 62 years old
• You own and live in your primary residence
• Your primary residence is a single-famly home, a one-to-four-unit dwelling, a condominium unit, or another HUD-recognized dwelling unit (mobile homes and cooperative houses are excluded)
• Your home meets HUD's standards
• You must speak with an FHA-approved counselor (this can be done via a fairly short telephone conversation) and present a certificate of completion
• You must continue paying property taxes and insurance, and maintain the home with any needed repairs

How Do They Decide How Much I Can Borrow?

The amount you can borrow against your home depends on three major factors:

1. The age of the youngest borrower
2. The current value of your home
3. The amount of the existing balance on your mortgage

With HECM loans, the older the applicant, the greater the loan amount that can be realized. For example, if the equity on a home equals $250,000, you may qualify for a $110,000 loan at age 62.  However, at age 76, you may be eligible for a $149,000 loan. The age of the youngest borrower is always used to calculate the proceeds when there is a co-borrower.

Even with a small mortgage or lien against the home, you still may be able to qualify for a HECM, but with a reduced payout. Talk with a Guaranteed reverse mortgage specialist for details.

*In some instances, credit and income qualifications will be considered when qualifying a borrower. Please consult a tax advisor for specific details. Before purchasing a reverse mortgage, you must first speak with a HECM counselor. Programs, rates, terms & conditions subject to change; credit subject to age and property qualifications. Property insurance is required; flood insurance where necessary. Loan must be repaid when the home is sold or homeowner moves permanently.