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Reverse


Mortgage
Brevard Senior Reverse Mortgages
Brevard's #1 Choice in Brevard County for Reverse Mortgages
Reverse mortgages are becoming popular in Brevard County. Reverse mortgages are a home loan that lets Senior Brevard Homeowners convert the equity in their homes into cash. Reverse mortgages or HECMs can give older Brevardians greater financial security to supplement social security, medical expenses, make home improvements and more.
   
Reverse Mortgage Steps
Reverse Mortgage Pros & Cons
Reverse Mortgage FAQs
 
Brevard County Info
Brevard Seniors Info


 


 


 

Brevard County, a great place to call home, we know we live here too. Brevard has experienced an enormous increase in real estate values.

Seniors in Brevard have built up huge amounts of equity in their homes. Turn that equity into cash and enjoy financial security.

Reverse mortgages in Brevard County, Florida. Reverse mortgages are a home loan that lets senior
 We Are Right Here in Melbourne

Get the Facts on Reverse Mortgages

Why Brevardians Are Getting Reverse Mortgage?
  • NO repayment for as long as you live in your home
  • NO pre-payment penalty
  • NO taxes are paid on the cash
  • You retain the title to your home & can sell your home any time
  • Cash may be used for any purpose
  • Does not affect your Social Security & Medicare benefits
  • Federal Housing Administration (FHA) insures the HECM
  • Borrower's heirs receive 100% of the remaining equity after the loan payoff.
Who Is Qualified to Obtain a Reverse Mortgage?
  • Borrowers must be 62 and older.
  • Mortgages can be taken out on a single family home, condominium or 1 to 4 unit complex, provided one is owner occupied.
  • No monthly repayment is necessary.
  • No income or credit qualification is required
What Are the Different Types of Reverse Mortgages Programs?
  • Tenure - equal monthly payments as long as at least one borrower lives and continues to occupy the property as a principal residence.
  • Term - equal monthly payments for a fixed period of months selected.
  • Line of Credit - unscheduled payments or in installments, at times and in amount of borrower's choosing until the line of credit is exhausted.
  • Modified Tenure - combination of line of credit with monthly payments for as long as the borrower remains in the home.
  • Modified Term - combination of line of credit with monthly payments for a fixed period of months selected by the borrower.

Do You Have A Regular Need for Living Expenses?

Do You Live on a Fixed Income and the 
Only Asset is Your Home Equity?

A Reverse Mortgage Could Be the Answer