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Reverse Mortgage Pros

At Crestico, we’re more than just a mortgage brokerage—we’re your trusted ally in unlocking your home's equity to fuel financial freedom.

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Check Eligibility

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Payment Option

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Close the Loan

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Repayment & Loan Terms

When deciding if a reverse mortgage is right for you, it’s important to understand the many potential benefits. These loans offer a way to access the equity in your home without the need for monthly payments, which can provide significant financial relief. In the right circumstances, a reverse mortgage can enhance your retirement by giving you extra income, helping with expenses, or allowing you to remain in your home longer.

While reverse mortgages may not be suitable for everyone, they can be an excellent option for those who meet the criteria and are looking for a flexible financial solution. By tapping into your home equity, you can maintain financial security and independence. It’s important to work with a trusted partner like Crestico to fully explore how a reverse mortgage could work for your specific situation and help you make the most of your home’s value.

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Stay in your home

When considering alternatives to a reverse mortgage, what other options allow you to stay in your home? A large majority of older adults express a desire to remain in their homes for as long as possible. Selling your home and renting may not always be financially advantageous, especially with high rental prices.

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No Required Monthly Payments for Principal or Interest

Taking out a 30-year fixed loan or a HELOC may not be the best choice for those on a fixed income, as committing to long-term payments into your 90s can be risky. A reverse mortgage offers a safer way to access your home’s equity, as the only requirements are paying property taxes and insurance each year. Compared to conventional loans or HELOCs, there is a lower risk of foreclosure with a reverse mortgage.

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Qualification May Be Easier
Qualifying for a reverse mortgage can be easier than qualifying for a conventional mortgage. While conventional mortgages typically require specific credit scores and debt-to-income ratios, reverse mortgage qualification focuses on your credit history and a residual income test. The debt-to-income requirements for a reverse mortgage are much more relaxed compared to traditional mortgages.
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Flexible and Tax-Exempt Funds
You can choose from several options to receive your proceeds, including a lump sum, line of credit, monthly payments, or a combination of these, allowing you to meet various financial needs. The equity in your home is accessible to you tax-free, as it's treated as loan proceeds rather than income. This advantage is particularly beneficial compared to the potential penalties from early withdrawals of other assets or pulling funds from a retirement account during a market downturn.
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Non-recourse Loan
A key benefit of reverse mortgages is that they are non-recourse loans. The only collateral for the loan is your home. If the home is sold for less than the loan balance, the FHA mortgage insurance fund will cover the difference. This means that if you take out a reverse mortgage, your heirs will never be responsible for paying more than the home's value.

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A reverse mortgage is a primary loan that allows you to pay off an existing mortgage, access cash, or establish a line of credit for future use. What sets it apart from a traditional mortgage is that you don’t have to make principal or interest payments as long as you live in the home and keep up with property-related expenses.