A Reverse Mortgage is a loan for senior homeowners that allows borrowers to access a portion of the home’s equity and uses the home as collateral. The loan generally does not have to be repaid until the last borrower no longer occupies the home as their primary residence.
- You must be 62 years of age or older.
- You must own your home.
- You must own your home outright, or have a substantial amount of equity.
- You must live in the home as their primary residence.
- You must complete a financial assessment.
NRMLA has established the Certified Reverse Mortgage Professional designation, a continuing education and testing program that gives experienced professionals an opportunity to further prove their dedication and knowledge. Look for the CRMP logo on your loan originator’s business card and promotional materials.
And look for the NRMLA logo on your loan originator’s business card or website.
You can borrow with confidence from a NRMLA lender.
Please contact our Reverse Mortgage Specialist Nancy Foster to find out if you could benefit from this unique mortgage product.
Nancy Foster – 805-440-1425 – firstname.lastname@example.org – NMLS #266111