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Reverse Loans

At Eagle Mortgage, our Reverse Loans product offers a unique financial solution for senior homeowners looking to unlock the equity in their homes. Also known as Home Equity Conversion Mortgages (HECM), Reverse Loans allow eligible individuals aged 62 and older to convert a portion of their home equity into funds for various needs, such as supplementing retirement income, covering healthcare expenses, or enhancing overall financial flexibility. With no monthly mortgage payments required, this product provides a way for seniors to age in place and enjoy their homes without the burden of traditional mortgage payments.

Unlocking Financial Flexibility with Reverse Loans

Experience financial freedom in your golden years with Eagle Mortgage's Reverse Loans. Tailored for senior homeowners aged 62 and older, this product, also known as Home Equity Conversion Mortgages (HECM), enables individuals to leverage the equity in their homes for diverse financial needs. From supplementing retirement income to managing healthcare expenses, Reverse Loans provide a unique avenue to enhance financial flexibility without the obligation of monthly mortgage payments. Discover how Eagle Mortgage can help you make the most of your home's equity.

Here's How a Reverse Loan Can Help You

  • Unlock home equity for financial needs
  • Supplement retirement income
  • Cover healthcare expenses
  • Enhance overall financial flexibility
  • No monthly mortgage payments required
  • Option to receive funds as a lump sum, line of credit, or monthly payments
  • Maintain ownership and reside in the home
  • Government-insured for added security
Frequently asked questions

What we think you should know about Reverse Loans

  • Who is eligible for a Reverse Loan?

    Individuals aged 62 and older who own their homes outright or have significant equity are typically eligible for Reverse Loans.

  • How does the repayment work for Reverse Loans?

    Repayment is typically deferred until the homeowner moves out of the home, sells the property, or passes away.

  • Can I receive Reverse Loan funds in different ways?

    Yes, Reverse Loan funds can be received as a lump sum, line of credit, or monthly payments, providing flexibility to meet various financial needs.

  • Will I still own my home with a Reverse Loan?

    Yes, homeowners retain ownership of their homes while enjoying the benefits of a Reverse Loan.

  • Are Reverse Loans government-insured?

    Yes, most Reverse Loans are insured by the Federal Housing Administration (FHA), providing an added layer of security for borrowers.

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