Leader One Financial Corp.

So, what exactly constitutes a reverse mortgage?
Reverse mortgages are loans uniquely created for homeowners aged 62 and above. Also known as a Home Equity Conversion Mortgage (HECM).
This type of loan works by allowing homeowners to convert a portion of their house's equity into cash without the need to sell the home or make regular monthly payments.
Unlike a classic forward mortgage, where the borrower begins paying down the mortgage right away, homeowners do not need to pay off money received through a reverse mortgage until after the last borrower no longer lives in the house. There are no monthly loan payments required1.
If you, or someone you know are getting ready for retirement and are thinking about a reverse mortgage, reach out to learn more!

1.Real estate taxes, homeowners’ insurance, and property maintenance required.
*The information included in this document does not come from HUD or FHA and is not approved by the Department of Housing and Urban Development or any other Government Agency.
This Advertisement is not from HUD or FHA and the document was not approved by the Department of Housing and Urban Development or any other Government Agency.