Reverse Mortgage
Choose Jordon Yates for your trusted mortgage reverse
Reverse Mortgage
A Reverse Mortgage is a powerful financial solution designed to help homeowners aged 62 or older convert a portion of their home equity into cash. Unlike traditional mortgages, where borrowers make monthly payments to the lender, a reverse mortgage allows homeowners to receive payments, giving them access to funds while still living in their home. This option can provide much-needed financial flexibility for retirees looking to supplement their income, cover medical expenses, or achieve other financial goals.
How Reverse Mortgages Work
With a reverse mortgage, homeowners can borrow against the equity they’ve built up in their home without having to sell it. The loan is typically repaid when the homeowner moves out, sells the home, or passes away. Reverse mortgages are available in several forms, including:
- Lump-sum Payment: Receive the funds all at once.
- Monthly Payments: Get a steady stream of income over time.
- Line of Credit: Withdraw funds as needed.
Key Benefits of a Reverse Mortgage
No Monthly Mortgage Payments
One of the biggest advantages of a reverse mortgage is that you do not have to make monthly mortgage payments. You are only responsible for property taxes, homeowners insurance, and maintenance costs.Flexible Disbursement Options
You can choose how to receive your funds, whether as a lump sum, monthly payments, or a line of credit that you can access as needed.Stay in Your Home
A reverse mortgage allows you to continue living in your home, enjoying the comfort and familiarity of your space, without the financial burden of monthly mortgage payments.Tax-Free Funds
The money you receive from a reverse mortgage is typically tax-free, providing you with more financial flexibility.Non-Recourse Loan
Reverse mortgages are considered non-recourse loans, meaning you or your heirs will never owe more than the home’s value, even if the loan balance exceeds it.
We guide you through every step of the mortgage process, ensuring you understand your options and feel confident with your decisions. From application to closing, we’re with you every step of the way.
Our dedicated Loan Concierge is here to make your mortgage experience as smooth and stress-free as possible. Whether you have questions or need assistance.
We offer flexible mortgage rates and low fees to help make homeownership more affordable. With customized solutions that fit your financial needs, you can find a plan that works for you without breaking the bank.
Talk with a Lending Specialist.
Have questions or need more information about our mortgage services? Feel free to send us a message!
How it Works
Let us help you get your home today.
At Jordan Yates Mortgage, we are dedicated to helping you secure the home of your dreams.
We begin by understanding your homeownership goals and financial situation. Our experts will explain your mortgage options and help you choose the best plan for your needs.
To move forward, we'll gather necessary documents such as income proof, credit history, and identification. This helps us assess your eligibility for the loan.
Our team will carefully evaluate your application, verifying your documents and ensuring you meet all requirements. Once approved, you'll receive a formal offer for the mortgage.
After signing the agreement, the funds will be disbursed to finalize your home purchase. We’ll ensure a smooth and timely transfer of funds, so you can move into your new home with confidence.
No prepayment penalties. You can pay early without a charge.
With our mortgage services, you have the freedom to pay off your loan early without any additional charges. We believe in flexibility, so you can save on interest by making extra payments or paying off your mortgage ahead of schedule—without worrying about prepayment penalties.
