Reverse Mortgage Financing serving Idaho and Utah

Is a Reverse Mortgage for you?

If you are a senior citizen at least 62-years-old, and you need some supplemental money for retirement, a reverse mortgage may be for you. With this loan, you get money from the equity in your home.  You can get it as one lump sum, or in monthly payments.  Instead of you making payments to your lender, the lender will make payments to you, the homeowner.  As you receive the money, interest accrues over the years and continues to take away from the equity you have left in your home.  Upon your death, the loan balance is due.  Most reverse mortgages are federally insured

To qualify for a reverse mortgage you need to own your home and not have a current mortgage, or have a small enough remaining balance to your mortgage that the reverse mortgage can pay off the balance.  
• If you have some retirement income to meet your living expenses, but not enough for emergencies, this might be a good option.  
• If you are not planning on selling your home and moving within the next few years, a reverse mortgage may be for you.
• You must have the ability to maintain your home so it is worth market value, pay homeowners insurance, pay property taxes, etc. 
• The home must be your primary residence.
• Easier to qualify for than other loans.
• Tax-free income.
• You don’t want to get a reverse mortgage if you are planning on passing your home to your heirs.

Call Alpine Mortgage at 208-941-6778

for more information on which refinancing option is best for you.  You may also fill out our online form.  We have the experience and expertise to walk you through the process and help you make the decisions that are in your best interest.  Remember, we work for YOU!