Using the right tool for the job makes all the difference. This is as true for home financing as it is for home improvements.

As a lending tool, a reverse mortgage has unique features. By tapping into your home equity, you can convert your home equity from a number on paper into a dynamic part of your longterm financial plan. Use it to…

Delay tapping into other assets, so they can grow and last longer
Set up a home equity line of credit to cover for living or medical expenses (or fun stuff )
Create a stream of payments to supplement your cash flow
Make home improvements to preserve your investment
Modify your home so you can comfortably stay in it longer
Build an ADU for income, to move into or for a family member or caregiver ‍‍‍
Purchase your next home with flexible payment options

You can accomplish one (or more) of these goals with no taxes due and flexible payment options – including the option to make no payment at all.

BUT as powerful a tool as a reverse mortgage can be, it's not a multitool for every job. You'll pay higher loan costs , if you opt to make no payments your loan balance will grow and your heirs lose flexibility other loan options offer.

Because there's a lot to think about, working with a reverse mortgage “specialist” sounds like a good idea. But the lenders who specialize in reverse mortgages may not be able to ask the right questions, suggest and help you thoroughly explore other options that may be a better or more costeffective fit. ‍♂

And one option that should always be on the table is doing nothing at all.

For honest advice about how well a reverse mortgage may (or may not) serve your needs call me at 5037993711 or email [email protected].

#ReverseMortgage #AgeInPlace #MortgageAdvice

Julee Felsman, SVP of Mortgage Lending NMLS 120831
Guaranteed Rate Inc NMLS 2611
Equal Housing Lender
www.nmlsconsumeraccess.org
www.rate.com/licensing
www.rate.com/privacy

Branch address: 1300 SE Stark St Ste 111, Portland, OR 97214
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Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information.

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