Reverse Mortgage

Imagine having the income you need to remain living in your home after retirement.  Imagine having the extra income you need for improvements, healthcare costs, even vacations.  That's where a Reverse Mortgage from WesternBank comes in.

 

Account Highlights

• Converts your home equity into monthly income
• No credit or income verification
• Borrower retains ownership and occupancy of home
• No monthly payments
• Tax-free equity release
• Closing costs and other fees can be financed with the loan

Reverse Mortgage Fast Facts

• All borrowers must be 62 or older
• No repayment is made until the home is sold, the owner permanently moves out or passes away
• You will never owe more that the value of your home
• No credit or income verification is necessary to qualify
• Interest is paid at the time the loan is repaid
• When the loan is due, your heirs have options - repay the loan and keep the home or sell the home and repay the loan
• Social Security benefits and Medicare are NOT affected by a Reverse Mortgage

 

 

WesternBank is an equal opportunity lender.