Reverse Mortgage

Unlocking your home’s equity to provide more monthly income.

Increase Monthly Income In Retirement

A reverse mortgage can help retirees augment monthly income by unlocking the equity in their homes.

What is a Reverse Mortgage?

A reverse mortgage is a financial product that allows homeowners, typically aged 62 or older, to convert part of their home equity into loan proceeds while retaining ownership of their home. The loan doesn't need to be repaid until the homeowner sells the home.

Is this loan right for me?

This option might be ideal for individuals who need additional income during retirement, want to cover healthcare expenses, or wish to improve their quality of life without monthly mortgage payments. It can be particularly beneficial for those who have significant home equity and limited cash flow. However, it's essential to consider the long-term implications, such as reduced inheritance for heirs and potential fees. Consulting a financial advisor is recommended before making a decision.

How can LitFinancial help?

LitFinancial’s expert loan officers look forward to teaching you all about the reverse mortgage process. We will provide you with the tools you need to make an educated decision about your financial future. Whether pursuing a traditional mortgage or a reverse mortgage, our experienced, patient and talented people look forward to working with you as a team to select the best option for you!