Let your home take care of you!
Raritan Bay Federal Credit Union has teamed up with LoanWell Financial
Corporation to offer our members the Reverse Mortgages!
What is a Reverse Mortgage?
Reverse Mortgages can be a great way for homeowners who are 62 years
of age or older to access the equity in their homes without ever having
to make a payment. A reverse mortgage can be used to supplement your
monthly income, cover healthcare expenses, pay off existing mortgages,
fix up your home, take a dream vacation or simply gain peace of mind.
Whatever your specific goals and desires, a reverse mortgage can go
a long way toward helping you achieve financial independence and enhance
your quality of life.
What are the benefits of a Reverse Mortgage?
No monthly mortgage payments
No income qualifications
Neither you nor your heirs can ever owe more than the market value
of your home at the time of sale.
The loan is not due until the last homeowner permanently moves out
of the house, sells the house or passes away.
You can receive the loan proceeds in any one of the following ways:
lump sum, line of credit, monthly payments or combination of any of
these.
For more information, please contact our
LoanWell Financial Mortgage Specialist at 201.290.0474.
For Frequently Asked Questions, please click here.
