Reverse Mortgages

Reverse mortgage programs allow individuals over the age of 62 to access their home’s equity in a very unique fashion. At Kiel Mortgage we want to ensure that you understand the benefits and costs of this type of mortgage. We will take the time to sit down with you to understand your situation and explain how we can find the right program to fit your needs.

Reverse mortgages are a government insured loan program that allows senior homeowners to convert a portion of the equity in their home into usable cash.

The money from a reverse mortgage can provide seniors with the financial security they need to fully enjoy their retirement years. The reverse mortgage is aptly named because the payment stream is “reversed.” Instead of making monthly payments to a lender, as with a regular mortgage, a lender makes payments to you.





The concept is simple. A reverse mortgage simply allows you to withdraw a portion of that equity, use it any way that you like, stay in your home for as long as you like, and when you are ready to sell your home, the loan is repaid.

There are three basic requirements to qualify for a reverse mortgage:

  1. Homeowners must be 62 years of age or older.
  2. The home must be your primary residence.
  3. The type of home and the condition must meet standard HUD guidelines.

We can help you explore this option and assist you to determine whether this is the right loan program for you to consider. There are many factors to think about when considering a reverse mortgage and we are here to help walk you through the process.





Have a mortgage or refinance question? Ask us!Have a mortgage or refinance question? Ask us!