Retirement Security with Reverse Mortgages
Reverse Mortgages, also called Home Equity Conversion Mortgages (HECM), allow homeowners aged 62+ to convert home equity into income without monthly mortgage payments. This federally insured program provides flexibility through lump sums, monthly payouts, or credit lines. At Team GWC of Citywide Home Mortgage, we help retirees unlock equity to reduce financial stress, cover expenses, and enhance retirement planning while maintaining ownership of their homes.
At-a-Glance:
Min age: 62+
Credit fit: Flexible
Occupancy: Primary residence only
Loan size: Based on equity and age
Pros: No monthly mortgage payments
Cons: Reduces equity inheritance
FAQs
A loan converting home equity into income for seniors.
Yes, you retain ownership while borrowing against equity.
No monthly payments; repayment occurs when home is sold.
Best for retirees needing extra income while aging in place.
Ready to Start Your Mortgage Journey?
Apply online, schedule a quick call, or request a guided application with one of our licensed teammates.
