The total amount of money you can receive from your house is limited. The amount is determined by the age of the youngest borrower or eligible non-borrowing spouse, the value of the house, and the interest rate at the time of closing.
Improved cash flow - improved quality of life.
Pay off your current mortgage
Receive lump sum cash at closing
Receive cash as needed.
Receive a monthly check
Money Received is Not Taxable
Because the money received by the borrower is not income, there are no income taxes to pay and the money received can be used for any purpose:
Pay for basic living expenses
Purchase long-term care insurance
Pay for medical expenses not covered by insurance
Help finance your grandchildren's education
Fulfill lifelong dreams that were previously unreachable
Homeowner maintains ownership of the home.
Since the owner retains all ownership rights, any appreciation in the value of the home belongs to the homeowner.
Because the borrower retains ownership, they must comply with the loan terms which include occupying the home as their primary residence, paying taxes and insurance, and maintaining the property.
In many cases, despite the interest being charged on the outstanding balance of a reverse mortgage, the homeowner's equity in the property actually grows over time. This is possible because interest is only charged on the outstanding balance of the loan, whereas the rate of appreciation of property values operates on the full value of the home.
"These materials are not from HUD or FHA and were not approved by HUD or a government agency."
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What Clients Say About Us
"I got a mortgage through First Integrity last September and it was the easiest mortgage I have ever gotten! Sam Pabuwal was very professional and made the process go smoothly. I would very highly recommend First Integrity and Sam Pabuwal to anyone who needs a mortgage."
"I have never in my life come across a broker with such integrity and honesty. The company name should be "Integrity First" because they certainly treat you that way. I would recommend this company to all of my friends, relatives, and associates. Regards, "
"Shopped around for good rates and low costs with a number of major, big-name lenders but no one could touch Sam and First Integrity. I've refi'ed twice with him over the past two years and between the two he's saved me over $700 per month. "