Reverse Mortgage in Oregon
Are you close to retiring or already retired and worried about money? In Oregon, many folks over 62 choose reverse mortgages to help them out. This option lets you use the equity you’ve built up in your home without having to pay it back right away. Want to learn more or apply right now? CLICK HERE to talk with one of our friendly mortgage brokers.
Reverse Mortgage in Oregon
Are you close to retiring or already retired and worried about money? In Oregon, many folks over 62 choose reverse mortgages to help them out. This option lets you use the equity you’ve built up in your home without having to pay it back right away. Want to learn more or apply right now? CLICK HERE to talk with one of our friendly mortgage brokers.
What is a Reverse Mortgage?
A reverse mortgage is a special loan for people 62 and older. It lets you get some of the money your home is worth without selling it. You don’t have to pay this money back every month. Instead, you pay it back only when you sell your home, move somewhere else for good, or when you pass away.
But remember, even though you don’t pay the loan back monthly, you still need to pay your property taxes and home insurance. This is important because it keeps your home in good shape and protects your loan.
How Does a Reverse Mortgage Work?
With a reverse mortgage, you can payoff your current mortgage or other debts to extinguish those payments, choose to get the money all at once or a little bit each month to supplement your income. Whatever works best for you! You don’t have to pay this money back until you sell your home, move out, or pass away. The rules also make sure you never owe more than your home’s worth when it’s time to pay back, even if home prices go down.
Good Things to Know
- No Monthly Loan Payments: You don’t have to pay the loan back every month. Just keep up with your taxes and insurance.
- Extra Money for You: Use the money for anything you need—paying bills, fixing up your home, or just having a safety net.
- Safe from Big Changes: The loan won’t ever ask for more money than your home’s value, even if prices change.
How Does a Reverse Mortgage Work?
Good Things to Know
- No Monthly Loan Payments: You don’t have to pay the loan back every month. Just keep up with your taxes and insurance.
- Extra Money for You: Use the money for anything you need—paying bills, fixing up your home, or just having a safety net.
- Safe from Big Changes: The loan won’t ever ask for more money than your home’s value, even if prices change.
Want to Find Out More?
Contact Us Today
Thinking about a reverse mortgage and want to know more? Our expert mortgage brokers are here to help. APPLY TODAY to start or reach out for a chat. Make sure your retirement is comfortable and worry-free with a reverse mortgage that fits your life.
