Reverse Mortgage Loans

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A reverse Mortgage Home Loans are offered by retirees who own their homes outright but have little cash to live on. If you are a retiree who does not have much cash or income, but is looking for a better lifestyle, then the Reverse Mortgage Loan may be just what you are looking for. 

The important aspect of this loan is that the retiree can borrow against the value of the home and still live in the home. The property is only sold later on if the retiree moves or passes away.

With a Reverse Mortgage Loan the repayments are deferred until the end of the loan. Hence the reason the loan is called a “Reverse” Mortgage Loan.

Unlike a regular home loan, interest is capitalised and the repayments of principle and interest are only repaid at the end of the home loan term. The retiree is thus able to use the equity in the home to fund a better lifestyle.

The amount that is loaned is normally between 20% to 40% of the value of the property. Interest rates can be either fixed or variable.

This type of loan is certainly not for everyone as it erodes the value of the retirees property, leaving less for their heirs to inherit.






























Here are some of the Pros and Cons of a Revese Mortgage.

Some Pros
-A Reverse Mortgage Loan an improve one’s lifestyle without having to cash out by selling the home right away.
-Can maintain familiar surroundings and not have to move.


Some Cons
-The longer the borrower takes to pay back the money, the more interest is owed to the lender and the more capital is eroded.
-Equity in the home is diminished over time with a Reverse Mortgage.
-Inheritance is reduced.




We want to help you to apply for the reverse mortgage loan you are looking for. A cariing, friendly and professional mortgage broker will guide you through the process from start to finish. We look forward to hearing from you and to being of service to you.

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Pros and Cons of a Reverse Mortgage Loans

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