Retirement just got better: tap into your home's equity with a Mann Mortgage Reverse Mortgage.
Quite possibly the most powerful & useful loan program in the world, Reverse Mortgages allow you to use your home equity as YOU see fit - while still owning it.
What are reverse mortgages?
A reverse loan, also known as a reverse mortgage, is a financial product that allows homeowners aged 62 or older to convert a portion of their home’s equity into cash without having to sell the property or make monthly payments. The funds obtained through a reverse loan can be used for various purposes, such as paying off debts, covering healthcare expenses, or supplementing retirement income. Some benefits of reverse loans include the ability to remain in the home without having to make mortgage payments, the option to receive payments in a lump sum, line of credit, or monthly payments, and the ability to access cash without selling the property. Ideal candidates for reverse loans are older homeowners with significant equity in their homes, who are looking for additional income or funds to pay for expenses, and who plan to stay in their homes for the foreseeable future.
Not sure where to get started? That's okay too, we're happy to meet you where you're at and direct you to the right place or person.
Reverse Mortgages at a glance.
- We offer flexible payment options for our reverse loans. We allow our clients to choose between a lump sum payment, a line of credit, or monthly payments.
- If you're struggling to make ends meet in retirement or want to enjoy a more comfortable lifestyle, a reverse loan can provide a steady stream of income.
- Reverse loans may come in handy if you have limited retirement savings or no pension.
- Our Hood River branch serves Bingen and Rockford.
Applying for a home has
never been easier
Our quick and secure process takes less than 10 minutes to apply.
Learn more about
reverse mortgages
With a reverse mortgage loan, the homeowner borrows against the equity in their home, which is the difference between the home’s value and any outstanding mortgage balance. The loan is repaid when the homeowner no longer lives in the home as their primary residence. Unlike a traditional mortgage, the borrower does not make monthly payments on a reverse mortgage loan. Instead, the loan balance accrues interest over time, and the total loan balance (including interest and any fees) is due when the loan becomes due and payable.
To be eligible for a reverse mortgage loan, you must be 62 years of age or older, have a low mortgage balance that can be paid off with the proceeds of the reverse mortgage loan, or own your home outright and live in the home as your primary residence.
We offer a variety of loan options, including fixed-rate and adjustable-rate loans, so that our clients can customize their loan options according to their unique financial situation.
Contact us today to learn more about the reverse loan application process in Hood River. We are happy to answer any questions you have.
Contact us today to learn more about the reverse loan application process in Hood River. We are happy to answer any questions you have.
“I was initially apprehensive about Reverse Mortgages, but my banker recommended that I contact Mann Mortgage to discuss. We were glad we did. Our loan officer took us through the entire process, answered my numerous questions, and assured us that this product would meet our specific needs.”
Michael S.
Let's get you home.
0% down financing for homeowners 62 years and older. Our local loan experts will help guide you.
