Retirement just got better: tap into your home's equity with a Mann Mortgage Reverse Mortgage.
Quite possibly the most powerful & useful loan program in the world, Reverse Mortgages allow you to use your home equity as YOU see fit - while still owning it.
What are reverse mortgages?
Reverse loans, also known as reverse mortgages, are financial products that allow homeowners aged 62 or older to access a portion of their home equity while still living in their homes. Unlike traditional home loans, reverse loans do not require monthly repayments; instead, the loan balance accrues over time and is typically paid back when the borrower sells the home or passes away. Reverse loans offer several benefits, including providing a source of income during retirement, paying off outstanding debts, and funding home repairs or renovations. They are ideal for seniors who have significant home equity but limited income and are looking to supplement their retirement income without selling their homes.
Not sure where to get started? That's okay too, we're happy to meet you where you're at and direct you to the right place or person.
Reverse Mortgages at a glance.
- We offer higher loan limits than other lenders, allowing our clients to access more of their home equity.
- You can provide financial support to your adult children or grandchildren.
- A reverse loan can help you do this without depleting your savings or compromising your financial security.
- Terrebonne, Eagle Crest, and Deschutes are three towns served by our Redmond Office.
Applying for a home has
never been easier
Our quick and secure process takes less than 10 minutes to apply.
Learn more about
reverse mortgages
With a reverse loan, the lender makes payments to the borrower instead of the borrower making payments to the lender. The loan is repaid when the borrower dies, sells the home, or moves out permanently.
To qualify for a reverse loan, you must be at least 62 years old, own your home outright, or have a low mortgage balance that you can pay off with the proceeds from the reverse loan, and live in the home as your primary residence.
Upfront, borrowers will pay an origination fee, closing costs, and an FHA MI fee of 2% of the home’s appraised value. Ongoing costs include an annual FHA MI of 0.5% of the outstanding loan balance. When the loan is due, the principal and interest are collected.
“I was initially apprehensive about Reverse Mortgages, but my banker recommended that I contact Mann Mortgage to discuss. We were glad we did. Our loan officer took us through the entire process, answered my numerous questions, and assured us that this product would meet our specific needs.”
Michael S.
Let's get you home.
0% down financing for homeowners 62 years and older. Our local loan experts will help guide you.
