Reverse Mortgages

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What is a Reverse Mortgage?

A reverse mortgage is a type of loan that allows homeowners aged 62 or older to convert part of the equity in their home into cash, without having to sell the home or make monthly mortgage payments. The loan amount is based on the home’s value, your age, and current interest rates. Over time, the loan balance increases as interest and fees accrue.

Benefits of a Reverse Mortgage:

Access to Home Equity
No increased mortgage payments
Maintain title and ownership
No monthly repayment

Loan Program Requirements:

Must be 62 Years Old
Have a significant amount of home equity
Show ability to pay housing expenses (Insurance, Taxes, Etc)
Must be your primary residence
Property must be eligible

Advantage Lending, LLC is a Licensed Reverse Mortgage Lender as certified by the North Carolina Commissioner of Banks. License Number RM-288

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