How do you receive your payments?

There are 5 payment options available for you to choose from:

1.   Term Option:   You receive equal monthly payments for a fixed period of time that you select.

2.   Tenure Option:   You receive equal monthly payments for as long as you occupy your home.

3.   Line of Credit Option:   You can draw up to a maximum amount of cash when you need it.

4.   Modified Term Option:   You set aside a portion of the loan proceeds as a line of credit and receive the remainder in the form of equal monthly payments for the fixed period of time that you choose.

5.   Modified Tenure Option:   You set aside a portion of the loan proceeds as a line of credit and receive the remainder in the form of equal monthly payments for as long as you occupy the home.

If your financial needs change, you can change payment plans at any time and as many times as you would like. Money from a Reverse Mortgage will not affect your Social Security or Medicare benefits because those benefits are not based on the assets of the recipients. The payments you receive are yours to spend any way you like.

You can rest assured that based on your specific needs, your Reverse Mortgage Specialist will guide you through the decision making process.

While there are many factors involved in determing the final amount of funds available to you, we have provided this calculator for the purpose of offering some insight for your particular situation. Please do consider contacting us for a more detailed personal analysis and even information on other options that may work better for your situation.