Reverse Mortgages

It’s time to start thinking in Reverse

We, at Nationwide Equities, understand that you want to transition easily into the retirement lifestyle of your choice. We are here to help you access a portion of your home’s equity and make the most of your retirement years.

What is a Reverse Mortgage?

A reverse mortgage, or HECM (Home Equity Conversion Mortgage), is a loan that enables homeowners, who are at least 62 years old, to convert some of their home equity into cash. A HECM can also be used to finance a home purchase.

How does it work?

With a Reverse Mortgage, the borrowers continue to live in and own their home. Unlike a traditional home equity loan or second mortgage, no monthly payments of the loan are required, as long as the borrowers comply with the terms of the mortgage loan. The homeowners remain responsible for keeping current with property taxes and hazard insurance, and maintaining the condition of the home.

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The equity that’s built up over years of home mortgage payments, can now help you in retirement! Find out how much money you’re eligible to receive with a reverse mortgage.
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Am I Eligible?

  • One borrower must be at least 62 years old

  • Borrowers must own and occupy the home as their primary residence.

  • You must have sufficient home equity. A loan officer from Nationwide Equities can help to see if you have enough equity to qualify.

Common Uses

  • Pay of existing mortgage

  • Supplement retirement income

  • Make home improvements

  • Pay credit card debt or medical bills

  • Travel

Understanding Your Reverse Mortgage

A reverse mortgage is a valuable option for older Americans. However, it is important that potential borrowers not only understand the clear advantages, but the financial obligations as well. Under the terms of the mortgage loan, borrower’s are still responsible for the following:

Maintaining Home Repairs

Basic upkeep of your home is required with a reverse mortgage. This is important because it helps retain its value.

Paying Property Taxes

Borrowers of a reverse mortgage may not be required to pay a monthly mortgage payment, however, they must stay current on their property taxes.

Paying Insurance

You must pay all homeowner insurance to cover possible hazards. Ask your loan officer about possibly setting up a set aside fund to ensure your insurance is covered.

Other Responsibilities

Borrowers will be responsible for paying any other dues, fees, or financial obligations, like homeowner’s association fees, for example. 

What Our Customers Are Saying

  • We are deeply grateful to Nationwide Equities for helping us lift a huge weight off of our shoulders! Everything worked exactly as you explained and we could not be happier. After 50 years of marriage, we are finally taking our first trip to California and aren’t stopping there! Thank you for making that possible.

    William S. Pennsylvania
  • Getting a reverse mortgage was the best thing we ever did. My wife and I were worried we weren’t going to be able to afford to stay in our home after retirement. It freed up enough money for all of our living expenses and we were even able to make some improvements to the house! The people at Nationwide Equities explained all of our options and were there for us when we decided to choose a reverse mortgage.

    Harry C. New Jersey

Talk to a Reverse Mortgage Expert Today

We’re here to answer any questions or concerns you may have about a Reverse Mortgage. Call us direct or fill out the form on the contact page to have a reverse mortgage specialist contact you.
*Please consult a tax advisor.Disclaimer: Tools and information provided on this page are for borrower convenience, the results of calculations using this calculator are loan estimates, and terms produced by the calculator may not be presently available credit terms. Interest rates (fixed rate and adjustable rate, LIBOR index) and amortization, mortgage insurance premiums (MIP), origination fees, lender margins, payment options and closing costs may vary.