Our Reverse Mortgage Blog

Many people think that a reverse is only for senior home owners that have a lot of equity in their homes and want to use it to refinance. While that is true, any senior having equity and wanting to purchase to perhaps downsize, can use a reverse mortgage to fund the purchase of a new home. Careful and thorough planning with a professional mortgage advisor specializing in reverse mortgages can provide all the details to make a smooth transaction possible.

The key on purchasing using a reverse is to find out what your maximum benefit amount is prior to the purchase and then orchestrate the transaction to only put a down payment in place that reaches the maximum benefit amount. Any left over money, can of course be invested and held for greater rate of return or used on other things.

It definitely is worth a look for anyone considering a downsize.