Reverse Mortgages

Doorway offers Reverse Mortgages that allow 62 or older senior homeowners with considerable home equity to borrow against the value of their home and receive funds as a lump sum, fixed monthly payment, or line of credit, while still living in the home.

Reverse Mortgages work by using part of the homeowner’s home equity first to pay off the home’s existing mortgage if there is still a balance. Monthly payments are not required but can help reduce monthly interest rates. After paying off the existing mortgage, the reverse mortgage lender will pay any remaining equity from the new loan. If the mortgage is already paid off, all the proceeds will be paid out.

Requirements:

All borrowers must be at least 62 years old
The home must be owned or have at least 50% equity
The home must be a primary residence
The borrower must meet with a Department of Housing and Urban Development counselor prior to applying

For more information about how Reverse Mortgages may benefit you, please visit www.retiremyway.live

This site uses cookies to process your loan application and other features. You may elect not to accept cookies which will keep you from submitting a loan application. By your clicked consent/acceptance you acknowledge and allow the use of cookies. By clicking I Accept you acknowledge you have read and understand Doorway Home Loans's Privacy Policy.

Reverse Mortgages

Requirements:

About Us

Contact Us

Resources

Disclaimers