Is a reverse mortgage right for you?
A reverse mortgage can be a strategic option for homeowners looking to increase their financial flexibility in retirement. Available to eligible homeowners aged 62 and older, this type of loan allows you to access a portion of your home’s equity without giving up ownership or taking on monthly mortgage payments.
Whether you’re looking to supplement your retirement income, fund long-term care, or purchase a new home without monthly mortgage obligations, a reverse mortgage could help support your long-term financial goals.
Common reverse mortgage myths
Reverse mortgages are often misunderstood—but when used responsibly, they can offer important benefits:
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No monthly mortgage payments required
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Borrowers retain full ownership of their home
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Can be used for income, expenses, or long-term planning
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Option to buy a new home designed for your next stage of life
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Repayment typically occurs when the home is sold or the borrower no longer lives there
Use a Reverse Mortgage to Buy Your Next Home
Reverse mortgages can also be used to help you purchase a new primary residence. This option is designed for older homeowners who want to move into a more suitable home while avoiding monthly mortgage payments.
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Buy a home that meets your lifestyle without draining your savings
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Preserve liquidity by using a portion of your assets as a down payment
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Enjoy peace of mind with no monthly principal and interest payments
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Downsize, right-size, or relocate while keeping more cash for future expenses
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