Reverse mortgages are government-insured mortgage loans that let seniors over the age of 62 to gain access to the equity in their homes and receive that equity as cash to use.
Furthermore, a major benefit is that borrowers can stay in their homes until the loan matures, or as long as they abide by the loan terms.
• No monthly mortgage payments
• A non-recourse loan that is federally insured
• Unaffected Social Security or Medicare benefits
About These Mortgages
Michigan Reverse mortgages are used for a primary residence only and are HUD insured.
- Primarily Refinance but can be used for Purchases too.
- Age requirement of 62 years old greater.
- Have your mortgage pay YOU every month.
- Lump sum cash out options available.
- Line of credit options available.
- Fixed Rate & Adjustable-Rate options available.
- Term of loan varies based off of age of the borrower(s).
Reverse Mortgages in Rochester Michigan
Our primary goal, as a Rochester Michigan reverse mortgage lender, is to help you enjoy your retirement years.
We do this by giving you the resources that you need to live comfortably and age in your own home. What’s more, is that you can be surrounded by the same people you know and love.
What’s more, as a leading Rochester Michigan reverse mortgage lender, we offer a variety of products that let you convert your home equity into cold hard cash, without having to constantly worry about making monthly mortgage payments.
Advantage Lending Corp is a Rochester Michigan mortgage lender authorized by the US Department of Housing and Urban Development (HUD) to offer Home Equity Conversion Mortgages (HECMs).
The most popular type of program in the country which is insured by the Federal Housing Administration (FHA) and regulated by the US government. As a local and trusted home loan lender in Oakland County Michigan, we’ve built a solid reputation on delivering the best home loans for our clients. Call today and learn more.