Your Guide to Reverse Mortgages

Is a reverse loan right for you or an older homeowner you know?

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Dream Bigger with a Reverse Mortgage from PacRes

Reverse loans make it easy for homeowners 62 or older* to tap into their home equity and use it to eliminate monthly mortgage payments, pay off debt, increase monthly cash flow, and much more. Unlike a traditional mortgage, the borrower receives money from the lender; no repayment is required until you no longer live in the mortgaged home. You're still responsible for property taxes, homeowner's insurance, and homeowner's association dues, if applicable.

How Do I Know if I'm Eligible?

Stipulations vary depending on loan type and state but generally indicate that:

  • At least one owner of record must be at least 62 years old
  • Home is your primary residence
  • Property is:
  • a single-family home or,
  • 1-4-unit home or,
  • HUD-approved condo or,
  • FHA-approved manufactured home
  • You don't have delinquent federal debt

Why Choose a Reverse Mortgage Specialist with PacRes?

Our Reverse Mortgage Specialists receive extensive training on all lending options available to eligible reverse mortgage clients. Plus, they have a deep understanding of specific loan programs and underwriting requirements. They're familiar with each program’s unique features and benefits and how you or someone you know could use a reverse mortgage as an effective retirement planning tool.

Is a Reverse Mortgage Right for Me?

If you're considering a reverse mortgage, there are personal factors to think about, such as your long-term financial goals. If you need a partner to help you navigate your options, click here to contact a Mortgage Advisor, or use the contact form below.

*Contents not provided by, or approved by FHA, HUD, or any other government agency. At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds; charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums, and servicing fees; the loan balance grows over time and interest is charged on the outstanding balance; the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home; interest on a reverse mortgage is not tax deductible until the borrower makes partial or full re-payment..
Minimum age qualification is 55 for all states except MA, NY, WA, NC, TX, and UT
Minimum age qualification is 60 for Massachusetts, New York, and Washington
Minimum age qualification is 62 for North Carolina, Texas, and Utah

Let's Connect

Here are three easy ways to reach us:

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Use the form to tell us about yourself and start the conversation.

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Use our search tool to arrange a meeting with the mortgage advisor in your neighborhood.

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Call 800-318-4571 and we’ll put you in touch with the right person.

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The rewards of great work

PacRes offers competitive compensation with great benefits designed to support your personal wellbeing.

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