About Reverse Mortgage

A reverse mortgage is similar to a normal mortgage except that the bank pays you. You do not have to repay the loan as long as you live in your home. There is no catch, but there are important things you need to understand before you move forward. We encourage you to call or e-mail us so that our loan consultants can answer all of your questions. The most common reverse mortgage product is the Home Equity Conversion Mortgage (HECM), but there are a variety of options to choose from. Here are some of the options available under the reverse mortgage program.


Lump Sum – In this case, you will receive a lump sum to use however you wish. You can use the money to pay bills, complete home improvements, build a nest-egg or for anything you choose.

Line of Credit – A line of credit option gives you a line of credit that you can use if and when you need it, without ever having to make any payments, no matter how much money you draw.

Monthly Advance – The “tenure” option allows you to receive monthly payments, as long as you live in your home.

Custom Plan – This is a modifed version of the tenure option which provides you with a monthly payment and access to additional funds if and when you need them.


  • Allows you to remain in your residence with no monthly mortgage payment.
  • Requires no repayment for as long as you occupy the home and abide by the loan terms.
  • Enables you to supplement a fixed income and cover daily expenses.
  • Gives you the option to use your equity however you choose.
  • Does not subject you to additional income tax.
  • Will not cause you to be liable for any amount above your home's value.
  • Features interest rates that are comparable to traditional and home equity mortgage rates.
  • Requires pre-loan counseling to ensure that you can make an informed decision.
  • Protects you from excessive "junk" fees, due to heavy governmental regulations.
  • Has no prepayment penalty.
  • Allows you to finance your up front fees so that they are not paid out of pocket.

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Seniors Home Funding
216 Congers Road
Suite 3-A
New City, NY 10956

Phone: (866) 330-7595
Email: info@seniorshomefunding.com