As The Experts Excelling in Service we are the Minnesota Reverse Mortgage Lender of Choice and YOUR LOCAL originators offering ALL Reverse Mortgage Programs currently available in the Minnesota and serving all of the state. ALL your reverse mortgage questions. Being local, we meet with you in person, at your home, to review the program and options with no pressure or obligations.
Homeowners 62 and older can use the equity in their home NOW with a reverse mortgage. A reverse mortgage is a specifically designed home equity loan for seniors with no income or credit requirements to impact the interest rate on the loan. This is a mortgage in reverse where the borrower receives payments or a line of credit instead of making monthly mortgage payments and the loan is paid off when the home is no longer the primary residence of the borrower(s) or other maturity triggers.
Borrowers are still responsible for paying property taxes, insurance, maintenance and HOA fees (if applicable). Being seniors are on a fixed income they generally don't qualify for a conventional mortgage or home equity line of credit (HELOC).
Homeowners 62 and older can use the equity in their home NOW with a reverse mortgage. A reverse mortgage is a specifically designed home equity loan for seniors with no income or credit requirements to impact the interest rate on the loan. This is a mortgage in reverse where the borrower receives payments or a line of credit instead of making monthly mortgage payments and the loan is paid off when the home is no longer the primary residence of the borrower(s) or other maturity triggers.
Borrowers are still responsible for paying property taxes, insurance, maintenance and HOA fees (if applicable). Being seniors are on a fixed income they generally don't qualify for a conventional mortgage or home equity line of credit (HELOC).
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