Access Home Equity While You Stay in Your Home
A reverse mortgage lets eligible homeowners age 62 and older convert part of their home equity into funds, without giving up ownership or making monthly mortgage payments.
A reverse mortgage turns home equity into usable funds.
Unlike a traditional mortgage, a reverse mortgage pays the homeowner instead of the other way around. Eligible borrowers can receive funds as a lump sum, monthly payments, or a line of credit while continuing to live in and own the home.
Designed for Homeowners 62 and Older
Reverse mortgages can help retirees supplement income, cover expenses, or create a financial cushion using the equity they have already built.
Turn equity into flexibility for retirement.
A reverse mortgage can be a useful tool for homeowners who want to stay in their home while putting built-up equity to work.
No Required Monthly Payments
Borrowers are generally not required to make monthly mortgage payments as long as loan requirements are met.
Flexible Ways to Receive Funds
Choose a lump sum, monthly payments, a line of credit, or a combination based on your financial goals.
Remain in Your Home
Homeowners keep the title and can continue living in the home as long as it remains their primary residence and obligations are met.
Reverse mortgages support several retirement goals.
Use available equity to help cover living expenses, healthcare costs, or day-to-day needs in retirement.
Eliminate an existing mortgage payment by using a reverse mortgage to pay it off, freeing up monthly cash flow.
Set up a standby line of credit to use for emergencies, home repairs, or future planning.
A cleaner reverse mortgage review process.
Confirm Eligibility
Review age, primary residence status, and available home equity to confirm basic eligibility.
Complete Counseling
Attend required HUD-approved counseling to understand obligations, costs, and how the loan works.
Compare Payout Options
Review lump sum, monthly payment, and line of credit options to match your financial goals.
Close and Access Funds
Complete underwriting and closing, then begin using funds according to your selected payout option.
Review reverse mortgage options with a licensed expert.
Talk with American Prime Rate and compare eligibility, payout options, costs, and how a reverse mortgage fits your retirement plan.
Contact Loan Officer