Features To Help Make The Most Of These Years

• Independence – You continue to own and live in your home

• Liquidity – Receive monthly payments instead of making them

• Simplicity – No income, credit or employment requirements needed to qualify2

• Choice – You may receive funds as a lump sum, in monthly installments, as a line of credit, or as an upfront sum plus monthly allotments

• Security – Does not affect Social Security, pension or Medicare benefits3

• Ownership – Your heirs can keep the property once the reverse mortgage is paid in full

• Freedom – Please ask your reverse mortgage consultant about when any payment may be due.

PA Reverse Mortgage Eligibility

All homeowners must be age 62 or older and occupy the property as their principal residence in Pennsylvania.
The home must be owned free and clear or only a small remaining balance exists. (The reverse mortgage may be used to pay off the balance on an existing loan).
The property must be a single-family or up to a four-unit dwelling in PA.
Condominiums and Townhomes are eligible
Credit, income, and assets are not considered for the reverse mortgage. The only items needed to qualify are proof of age and an appraisal.
Home must be over 1 year old - can not be new construction.

How much can be borrowed?
Please call us at 610.326.2099 or fill out our quote request for a same day response.

We just need the following information to quote your PA reverse mortgage offer:

Date of birth for each borrower/owner.
Zip code.
Amount owed on house.
Current monthly mortgage payment (without taxes and insurance).
Total loan amount requested.

The maximum amount that can be borrowed is based on four factors:

The age of the youngest homeowner
Average home value in your geographic area
The market value of the home
The current interest rate

We often lend 100% of the home's value with no additional fees or rate adjustment!

Pennsylvania Reverse Mortgage Payment Plan Options:
There are different ways of receiving the loan proceeds. The homeowners choose an option that best fits their goals.

Term: Provides fixed cash advances for a set period of time.
Tenure: Provides fixed cash advances for as long as the homeowners occupy the property as their
principal residence.
Line of Credit: Establishes a credit line which the borrower draws upon as he or she wishes.
Combination: A combination of the above options.

Am I qualified for a reverse mortgage if I currently have an existing loan on my home?
Yes, but the existing loan must be paid off prior to or at the settlement of the reverse mortgage. Quite often the reverse mortgage is used to refinance an existing loan.

My property is held in a Living Trust. Do I qualify?
Yes, but you must be the primary Trustee and qualified by age.

To avoid probate, my children and I own the property in joint tenancy. Do we qualify?
Yes, if the children are age 62 and older and live in the property. Otherwise, they would need to be taken off title for you to participate.

Are the cash advances considered income by the IRS?
No. The cash advances are actually loan distributions and are not considered income. The cash advances are tax-free.

Are mobile homes eligible?
Yes. The home must have been built in 1977 or later and have permanent foundation that is approved by FHA.

Are there restrictions on how I can use the money?
No. Of course not, after all - It's your money.

1. Consult a tax advisor. 2. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. Family members are also strongly encouraged to participate in these informative sessions. Must be at least 62 years old. Call for more detailed program information. 3. Loan proceeds are not considered income and will not affect Social Security or Medicare benefits. Your monthly reverse mortgage advances may affect your eligibility for some other programs. Consult either a local program office or your attorney to determine how, or if, monthly reverse mortgage payments might affect your specific situation. This information is accurate as of date of printing and is subject to change without notice.

Pennsylvania Reverse Mortgages - PA Reverse Mortgage Specialist
PA Reverse Mortgages are FHA loans, which are federally backed and insured. We offer very low rates and fees as determined by FHA. The only out of pocket cost is a $300 appraisal fee.

Enjoy a More Comfortable Retirement in Your Own Home. A Pennsylvania Reverse Mortgage Helps you Cover Expenses & Afford Luxuries

PA Reverse Mortgage Eligibility

Pennsylvania Reverse Mortgages - PA Reverse Mortgage Specialist PA Reverse Mortgages are FHA loans, which are federally backed and insured. We offer very low rates and fees as determined by FHA. The only out of pocket cost is a $300 appraisal fee.

Enjoy a More Comfortable Retirement in Your Own Home. A Pennsylvania Reverse Mortgage Helps you Cover Expenses & Afford Luxuries

PA Reverse Mortgage Eligibility

Pennsylvania Reverse Mortgages - PA Reverse Mortgage Specialist
PA Reverse Mortgages are FHA loans, which are federally backed and insured. We offer very low rates and fees as determined by FHA. The only out of pocket cost is a $300 appraisal fee.