What is a Reverse Mortgage? Understand the Essentials

At Crestico, we’re more than just a mortgage brokerage—we’re your trusted partner in converting home equity into lasting financial flexibility.

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Step 1

Check Eligibility

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Step 2

Payment Option

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Step 3

Get Approved

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Step 4

Close the Loan

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Step 5

Repayment & Loan Terms

A reverse mortgage is a type of first mortgage loan that can be used for several purposes, including paying off an existing mortgage, accessing cash from your home’s equity, or setting up a line of credit that you can draw from in the future.

What makes a reverse mortgage different from a traditional mortgage is that you aren’t required to make monthly principal or interest payments while you continue to live in the home, as long as you stay current on property-related expenses like taxes, insurance, and maintenance. This provides homeowners with greater flexibility and financial relief, especially during retirement, as the loan is repaid only when the home is sold or the borrower no longer lives in the home.

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At Crestico, our loan programs are designed to meet a wide range of financial needs—whether you're buying your first home, refinancing, investing in property, or looking for flexible financing options. From conventional and government-backed loans to non-traditional and specialty programs, we offer solutions that align with your goals. Our experts help match you with the right loan, offering competitive rates, personalized terms, and a smooth approval process.

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