REVERSE MORTGAGE HOME LOANS
Assured Home Loans can give you access to a Reverse Mortgage Home Loan. Reverse mortgages are relatively new in the home loan market and were brought about to assist elderly borrowers in a number of ways.
For a reverse mortgage, the lender will calculate the equity in your family home and will lend up to 30% of the property value. For example, if a property is worth $300,000, up to $90,000.00 of the equity may be used, less any amounts currently owing.
The lender will lend funds with no set minimum monthly repayments required. Interest is simply capitalised to a set limit and the lender will recoup the outstanding funds on either the death of the borrower/s or if the security property is sold.
Benefits to a reverse mortgage home loan
Many pensioners cannot apply for a traditional mortgage, however a reverse mortgage opens up the lending market to elderly people.
You don’t have to sell your home or downsize in order to subsidise retirement.
Use the equity in your home for almost anything to help you get a stress-free retirement.
Reverse mortgages are flexible.