Handling financial hardships can be complicated for senior citizens. However, a reverse mortgage can be a viable solution. It’s ideal when you need regular financial aid during your golden years.
With reverse mortgage loans, you can convert part of your home’s equity into cash to manage a range of expenses such as:
A reverse mortgage program enables applicants to generate cash inflow without having to sell the house. So, if you are struggling financially and considering applying for a reverse mortgage, PierPoint Mortgage is here to help you out!
At PierPoint Mortgage, we aim to help senior residents make the right decision when choosing their home equity into cash. Before we move ahead, let’s discuss what a reverse mortgage is and how it can benefit you when you need financial assistance.
In a reverse mortgage, older homeowners receive installments from the reverse mortgage lender, contrary to traditional home mortgages as the homeowners already own the house. Thus, it allows homeowners to withdraw a portion of their home’s equity.
It is specifically meant for senior residents, typically 62 years of age or older. These allow senior homeowners to manage their expenses after their retirement by borrowing money using their home as security for the loan.
There are three types of reverse mortgages you can choose from:
Although there are various types of reverse mortgages available in the market, Home Equity Conversion Mortgage (HECM) is the most popular one. At PierPoint Mortgage, our experienced lenders will explain the different types of reverse mortgages and help you find the best one as per your needs.
Before you apply for a reverse mortgage, you should know why it is the ideal choice for you.
Other than your age, you also need to adhere to the following requirements for qualifying for a reverse mortgage:
If you want to discuss your loan eligibility, the financial implications of the loan, or have any other queries, feel free to reach out to our experts today!
Whether you choose home equity conversion mortgages, a proprietary reverse mortgage, or a single-purpose reverse mortgage, the process at PierPoint Mortgage is pretty straightforward. Simply follow these steps:
Hiring a trustworthy and reliable mortgage lender is crucial as there are also a few fraudulent lenders who may want to scam you. So, don’t get pressured into any reverse mortgage scams. Instead, take your time collecting accurate information from the best reverse mortgage lenders at PierPoint Mortgage.
We are a trusted and reputed name in the mortgage industry with an extensive track record of satisfied borrowers.
If you are a reverse mortgage borrower, you can enjoy the following benefits when you choose our services:
When you’re looking for knowledgeable, licensed, and qualified lenders to assist you during the reverse mortgage process, PierPoint Mortgage is your trusted partner. We specialize in helping senior citizens access their home equity in cash with a hassle-free reverse mortgage plan.
We are committed to providing quality services to help you achieve your financial goals. In addition, our team of top reverse mortgage lenders has accumulated decades of experience in the mortgage industry. So, you can rely on us for the best mortgage advice.
Apply online and know your eligibility for a reverse mortgage today!