Credit Union Mortgage Association, Inc.

Reverse Mortgage

What is a Reverse Mortgage?

A Reverse Mortgage is a unique loan that allows homeowners* age 62 years and older to convert part of the equity in their home into monthly income or cash, without having to sell their home, give up title, or take on additional monthly mortgage payments.
Several payment options are available for reverse mortgages:  

  • Monthly annuity
  • Single lump sum payment (cash advance)
  • Line of credit
  • A combination of all these options

You can find more information on our website about reverse mortgages. Click the buttons in the menu to the right for information about the benefits, products available, and how to qualify. We also have information to better inform you about common misconceptions about reverse mortgages. When you’re ready, we provide a convenient online calculator to determine the amount for which you can qualify.

Learn from Our Expert

To gain a better understanding of the history of reverse mortgages, read our Expert Article on “Reverse Mortgages Past and Present”. You’ve seen commercials on television and watched “Special Reports” on the subject, not to mention the offers you’ve received in the mail. But any single source of information may be biased or leave out key details. It’s important to get a full perspective that covers the whole story, both positive and negative. Click here to read our Expert Article.

Ready to Apply?

To apply for a reverse mortgage or speak to a reverse mortgage specialist, please contact our office or click the big button to send us an email.

* Must own home as primary residence in VA, MD, DC

 

 

AARP.org

NRMLA

HUD.gov

Social Security Administration

Zillow.com

Senior Lending Network