*You Still Own Your Home, Just Pay the Property Charges, Like Taxes and Insurance
Here’s How: Refinance your traditional mortgage into a reverse mortgage loan
- A portion of your home equity can be accessed as cash, monthly disbursements, or a line of credit.
- Use HECM loan proceeds at closing to refinance (pay off) your payment-required traditional mortgage.
- Pay what you want towards the loan balance each month, or defer repayment by not making any monthly principal and interest payments for as long as you live in your home. To do so, you just have to maintain the home and pay the property charges like taxes and insurance.
Any remaining funds may be used based on your individual needs, such as:
- Making home updates to support aging in-place
- Paying down higher-interest debt
- Covering larger expenses
- Supporting in-home care or healthcare needs
- Creating a financial cushion for the futre
Costs are high. By having a $0 monthly mortgage payment, you can better manage:
- Day-to-day living expenses
- Market uncertainty
- Rising food costs
- Taxes
- Unexpected health care costs
For some, it may also create more room in the budget for meaningful experiences and long-term goals in retirement.
Remember, home values in many areas across the country are near historic highs. For many homeowners, home equity represents a significant portion of their wealth.
A reverse mortgage loan is one way to access that value while continuing to live in your home.
Real Experiences From Real Customers
Why Fairway Independent Mortgage Corporation?
Fairway Independent Mortgage Corporation is a national mortgage lender with top-notch customer service.
We’re committed to providing an amazing experience – from loan application to closing, and beyond.
- We’re a national, full-service lender with high customer satisfaction scores
- We’re ranked as one of the top 10 mortgage companies in America by Mortgage Executive Magazine
- As an FHA-approved lender, we’re able to sell HECM reverse mortgages
- We’re dedicated to educating consumers – as well as their family members and their other trusted advisors – on the pros and cons of reverse mortgages
Schedule an Appointment With Us Today!
Call us or complete the form below to schedule a free consultation. Together, let’s find out if leveraging home equity is the right move for you and your retirement.