Reverse mortgages allow homeowners age sixty-two and over
to convert home equity into cash. The amount of the loan is
based on the homeowner’s age, value and location of
the home, and current interest rates. Gershman Mortgage offers
several options for reverse mortgages.
View
our Reverse Mortgage TV Spot
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Income is tax-free. |
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Repayment is not required until the borrower moves out
permanently, sells the home, or passes away. |
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No penalty for early payment. The loan is non-recourse. |
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Repayment cannot exceed the value of the home. |
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Payments can be made in a lump sum, monthly payments,
a line of credit or a combination. |
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No credit or income qualifications. |
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Are age 62 or older |
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Would like to stay in their home |
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Would like supplemental income for retirement |
Residential
