With a reverse mortgage, you can borrow against a percentage of the value of your home. Receiving equal monthly payments or a lump sum payment, you can use the cash from your equity for your living expenses, medical costs, or purchasing a home.
In a reverse mortgage, the borrower is not required to pay back the loan until the home is sold or otherwise vacated.
We know that as a home buyer you are looking for the best deal you can find. We also know that getting cash back after you close on your mortgage loan can help you with all of the expenses that come with moving into a new home.