.jpg)
Looking to use your home's equity without moving? A reverse mortgage might be the solution. At Clear Rate Mortgage, we provide reverse mortgage options that let you turn your home's value into cash while staying put.
What's a Reverse Mortgage?
A reverse mortgage is a special loan for homeowners 62 and older. It changes some of your home's worth into money you can use. Unlike regular mortgages, you don't pay monthly. You repay the loan when you sell, move out, or die. This lets you use the money how you want, like for health costs, fixing up your home, or enjoying retirement more.
Why Think About a Reverse Mortgage?
- Keep Your Home: A reverse mortgage lets you use your home's value while living there, giving you money options without moving.
- No Monthly Mortgage Bills: A big plus is not having to pay a mortgage each month. You pay back the loan when you sell or move out.
- Choose How to Get Paid: You can get reverse mortgage money all at once, in monthly amounts, or as credit you can use, based on what you need.
- Spend the Money Your Way: Whether it's for doctor bills, home updates, or just making life better, the reverse mortgage money is yours to use.
Who Can Get a Reverse Mortgage?
To qualify for a reverse mortgage, you need to:
- Be 62 or Older: The main borrower must be at least 62 years old.
- Own Most of Your Home: You need to own a big part of your home—usually at least half—to qualify.
- Live in the Home: The house must be where you live most of the year.
How Clear Rate Mortgage Can Help
Clear Rate Mortgage knows the good points and tricky parts of reverse mortgages. We're here to help you decide if this choice fits your money situation. Our team will walk you through the steps, making sure you know everything and get the most from your home's value.
Want to Start?
If you're interested in how a reverse mortgage can give you more money freedom in retirement, Clear Rate Mortgage is ready to help. Pre-Qualify Now and start using the wealth in your home!
