Are you over the age of 62, a homeowner, and looking for mortgage options? Contact Cape Mortgage Inc to learn about reversed mortgages and to start the application process.
Reverse Mortgage
Reverse Mortgage
Get the Reverse Mortgage That Suits Your Needs
Cape Mortgage Inc understands that your reverse mortgage has to suit your specific needs. If you are on a fixed income, a reverse mortgage allows you to convert a portion of your home’s equity into cash payments.
The cash payment can be one lump sum or a regular monthly installment.
Qualifying for a Reverse Mortgage
In order to qualify for a reverse mortgage, you must meet a few requirements. You must be at least 62 years of age or older and you must own your current property. The amount you can borrow on the home will depend on the value of your home.
Contact us today to learn more about reverse mortgages and to learn if you qualify for a loan.
Benefits of a Reverse Mortgage
A traditional loan will require that you pay back the loan at a fixed monthly rate. However, reverse mortgages offer a deferred payment option. You will not have to repay your loan unless you no longer own the home or if you fail to meet the obligations set by the mortgage.