Different loan plans for different needs

 

Reverse Mortgages are not one-size-fits-all. Access Reverse Mortgage offers a broad selection of plans,with one to fit your particular needs. Some examples:

 

Mr. & Mrs. A are 72 years old. Home value – $225,000.

Owe $70,000 on mortgage; $825.00.monthly mortgage payment.

 

An FHA Reverse Mortgage would pay off their mortgage in full, saving them $825.00 a month — plus, their choice of either a $72,738.11 line of credit, or tax-free $437.36 monthly income payments guaranteed for the rest of their lives.

 

Mr. & Mrs. B are 72 years old. Home value – $225,000.

They own their home free and clear.

 

An FHA Reverse Mortgage would provide choice of either a $142,738.11 line of credit, or tax-free $857.58 monthly income payments guaranteed for the rest of their lives.

 

Mr. & Mrs. C are 72 years old. Home value – $250,000.

Owe $160,000 on mortgage; $1380 monthly payment.

 

An FHA Fixed Rate Reverse Mortgage would pay-off their mortgage in full, saving them $1380 a month. Their interest

rate would be fixed for the life of the loan at 5.56%.

 

Mr. & Mrs. D are 75 years old. Home value: $1,200,000.

Owe $200,000 on mortgage; $1900 monthly payment.

 

A Jumbo Reverse Mortgage would pay off their mortgage

in full, saving them $1900 a month. They would also have

a line of credit in the amount of $326,212.48.

 

*Interest Rates Change regularly, please call for specific product details. Interest Rates based on rates as of 1/31/2008.