Reverse Mortgage Options

Reverse mortgage payments can be received several ways.

  1. Line of Credit (Most popular)
    You may not need the money right now, however, you can be prepared for unexpected or future expenses.  The proceeds are placed in a line of credit and can be drawn from as needed.  The money in the line of credit can accumulate interest, similar to a savings account and interest is only accrued on the drawn portion.
  2. Lump Sum
    Proceeds are given to you at closing and can be coupled with a line of credit.  Most people who request a lump sum are paying off a mortgage or have serious plans for the money.
  3. Monthly Payments
    Those who elect this plan are usually in need of an increased monthly income.  The payments can be a specific term chosen by you or tenure payments specified by the lender each month.

    OR, you may have the choice of combining any of the 3 options listed above.

How much do I qualify for?

Contact Reverse Tennessee, your local Reverse Mortgage Specialist for a custom analysis at 615-200-8677 or christine@reversetennessee.com

OR, fill out the short form below to be contacted.

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