REVERSE ANNUITY  MORTGAGE

Reverse Annuity Mortgage

A Reverse Annuity Mortgage is a loan intended for older individuals who have paid off their homes but can't continue living there or want additional funds for home improvements, long-term care, medical expenses, or other needs. It enables a homeowner to transfer part of the equity they have accrued in their property into cash. Most private RAMs have no minimum income criteria, and the loan proceeds are tax-free. The loans are often returned when the borrower sells the house, vacates, or passes away. They are typically paid to the borrower monthly rather than all at once.

 

Why a Reverse Annuity Mortgage 

One of the best benefits a reverse annuity mortgage has is that these loans do not require regular payments. You can draw small amounts of money from the loan sum and only pay interest on the amount you have borrowed so far.

Get a Reverse Annuity Mortgage

The income you receive from a reverse annuity mortgage depends on different factors, and it can be used to supplement your current income, pay for medical expenses, or even fund a major overseas trip. If you are interested in getting a reverse annuity mortgage, contact us, and we will help you through the process to make everything simple and quick. Get started today!

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