What if there were a way you could increase your income during retirement?
What if you could get more out of your investment in your home?
If you are a senior citizen, you can take out a reverse mortgage on your home, and do just that.
With this type of loan, you borrow against the equity in your house. You can receive the cash from your loan either as a lump sum or in installments. Because the loan does not come due until the last borrower dies or you decide to move out of your home, you can stay in your house for as long as you like.
That means you can continue to enjoy the same lifestyle you do now, but with more financial security and comfort.
One of the best things about a reverse mortgage is that it gives you full financial freedom in terms of how you use the funds.
Here are some common ways that seniors use the income from reverse mortgages to give you some ideas:
Unlike most other types of loans, a reverse mortgage does not include any restrictions whatsoever on how you use the cash.
Choose a disbursement option which is compatible with your needs and goals.
Make your own decision about how you want to use the reverse mortgage income.
Staying in your home for as long as you want.
Enjoy tax-free income.
Increase your quality of life.
Reduce stress while improving peace of mind.
To obtain a reverse mortgage in the Bay Area or elsewhere in California, you will need to meet these requirements:
You or another borrower on the original mortgage for the home will need to be age 62 or higher.
You must own at least 50% equity in your home.
You can only borrow against the equity in a primary residence.
All maintenance payments on your home must be up-to-date.
Your credit score, income and tax history will be taken into account when you apply.
You could be just an application away from changing your life during retirement. To apply now for a reverse mortgage, please call (925) 478-8630. During your consultation, we can let you know if you qualify, and can walk you through the reverse mortgage application steps.
We are located in Walnut Creek CA, we serve customers in the San Francisco Bay Area. This includes Martinez, Concord, Pleasant Hill, Alamo, Danville, San Ramon, Orinda, Moraga, Lafayette and throughout California.
Bridgepoint Funding is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.