Pmac

Reverse mortgages for senior homeowners

Generating peace of mind and well-being

What is a reverse mortgage?

Designed especially for seniors, a reverse mortgage loan allows homeowners age 62 and older to convert a portion of their home equity into tax-free money to use for any number of reasons:

How much money can I receive?

The amount that can be borrowed is determined by an FHA formula that considers age, the current interest rate, the appraised value of the home and government lending limits. Typically, the more valuable the home, the higher the loan amount will be.

Is it true I will no longer have mortgage payments?

With a reverse mortgage loan, your existing mortgage will be paid in full, eliminating all monthly payments.

The loan does not need to be paid back until you choose to move or sell your home, or when your estate is settled. At that time, no other assets are affected. For example, second homes, cars, investments and other valuable possessions cannot be taken from the estate to pay off the remaining loan balance.

Discover for yourself how a reverse mortgage could make your life more comfortable.
Discover for yourself how a reverse mortgage could make your life more comfortable.
  1. Terms and conditions are subject to agency and investor guidelines in effect at the time of application. Information under the truth-in-lending laws (interest rates, loan terms, financing fees, closing cost breakdown and any other fees) is free of charge and does not constitute a reverse mortgage acceptance. Loan programs may change or be eliminated without notice or obligation. Not all borrowers qualify for all programs.
  2. All property taxes, homeowner’s’ insurance, and HOA dues are the responsibility of the borrower. Failure to remain current on all relevant property charges can cause the reverse mortgage to go into default. Payments may stop and consumers may lose their home if they move out of the house or violate another condition of the mortgage. Minimum age of all borrowers at time of closing is age 62

Contact me today!

Tel. (561) 864-2416

Cel. (561) 706-5469

Fax. (561) 864-2816

951 Yamato Road, Suite 150 Boca Raton FL 33431