ENJOY RETIREMENT WITH LESS FINANCIAL WORRY

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Whether you’re retired or about to retire, working part-time or still working — there’s a home equity loan option that may be the smart way for you to get the retirement you deserve. If you are a homeowner age 62+, a reverse mortgage can alleviate financial worries, give you peace of mind and play an important part of your retirement funding strategy.

REPAYMENT OPTIONS

Pay as much or as little as you like each month toward principal and interest. As with any mortgage, you must meet your loan obligations, keeping current with property related taxes, insurance and maintenance, and any homeowners association fees.

HIGH-FLEXIBILITY LOANS

Gain access to a line of credit you can tap into as needed, or a steady stream of monthly funds¹.

PROTECTION

Our loans come with non-recourse protection so you’ll never owe more than your house is worth when the loan is repaid.

YOU'RE NOT ALONE

Among older Americans, 83% share a concern over savings and retirement.² Learn how you can leverage your home’s equity to better prepare for retirement.

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HOW IT WORKS

Carol and Malcolm are both 62 years old and preparing for retirement. They currently have a small amount left on their current mortgage that requires them to make monthly principal and interest payments.

With a reverse mortgage, they can refinance their existing home to eliminate their monthly payment, thanks to the reverse mortgage’s flexible repayment feature. As with any mortgage, they must meet their loan obligations, keeping current with property taxes, homeowners insurance, maintenance and any homeowners association fees. They then choose to open a reverse mortgage line of credit with the rest of the funds so that they can have an available source of funds that can be tapped later on.

THE RESULT

  • Carol and Malcolm are able to keep more money in their pocket each month.
  • They can be more financially prepared for the future.
  • They can avoid tapping into invested assets that are a source of income.

SEE WHAT FUNDS YOU MAY HAVE AVAILABLE

If you have equity in your home and believe you meet the eligibility requirements, a reverse mortgage may be the option that could help you retire smart.

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DIANE S.
Benicia, CA

I just so happen to have a reverse mortgage. The best thing I ever did in my life.

JAMES J.
Philadelphia, PA

You get to stay in the house and that’s a really good thing. Especially since you still own the house.³

RICK M.
Fairport, NY

It's a mortgage, or it's a line of credit, but with flexibility. I haven't heard yet any reason why I shouldn't pick this product.

¹ Borrowers who elect a fixed rate loan will receive a single disbursement lump sum payment. Other payment options are available only for adjustable rate mortgages.

² Source: National Council on Aging. (2017) National Council on Aging Research Highlights Need for Greater Awareness of Home Equity Products Among Older Homeowners and Financial Advisors. http://www.businesswire.com/news/home/20170328005317/en/National-Council-AgingResearch-Highlights-Greater-Awareness

³ As with any mortgage, borrower must meet their loan obligations, keeping current with property taxes, homeowners insurance, maintenance and any homeowners association fees.

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