A great option to increase your retirement cash flow!
SCL Mortgage offers excellent Reverse Mortgage programs up to $4M for borrowers as young as 55 years of age*
A reverse mortgage allows seniors the ability to eliminate their monthly mortgage payment*. Utilizing your equity, you can receive a tax free* monthly payment for a fixed term from your home. Another great option is to set up a line of credit with the reverse mortgage. This will allow you the ability to access funds at any time for any reason. The line of credit will also pay you annual interest at above average rates. The main differences between a Reverse Mortgage line of credit and a home equity line of credit is the reverse mortgage can never be frozen, does not need to be paid back until you sell the property, and pays you interest on the credit balance.
You can also Purchase a home using a Reverse Mortgage
With this loan, you would put down approximately 50% (depending on age) and get a reverse mortgage for the other 50%. This program works very well when if you decide to sell your home and downsize to a less expensive home. Instead of taking all the cash from the sale of the home, you put 50% of the funds into the home purchase and put the other 50% of the cash in your pocket. Now you have the funds available for retirement and will never have a mortgage payment.
The reverse mortgage is a great tool that can be used to enhance retirement
At SCL Mortgage, we use a consultative approach and explain all the options available to you so you can make the best decision for your particular situation. This mortgage can be a life changer and should be a part of every senior’s retirement plan.
Contact us today and learn more! Call us at (888) 790-2227 or fill out the form below:
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*Available to borrowers 55 years of age or older in select states, some states have higher minimum ages. This material is not from HUD or FHA and has not been approved by HUD or a government agency. The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. Not tax advice, consult a tax professional. Not available in Tennessee.