About Reverse Mortgages:
• Ownership does not change
• No monthly principal and
interest mortgage payment
• Remain in your home
• Supplement your income
• Most loans insured by FHA
• Pay off your existing mortgage
A Reverse Mortgage is a home equity loan available only to those that are 62 and above. It provides a portion of your home equity as tax free income to payoff an existing mortgage, or enjoy a better retirement and lifestyle. There is never a monthly mortgage payment required! You are still the owner of your home.
Although qualifications do apply, this loan is still considerably less difficult than a traditional Home Equity Loan.
Please call me today for more information:
Preston Vice
Residential Mortgage Loan Originator
NMLS ID: 461225
(214)728-
preston@srfreedom.com
© 2016 Senior Freedom Inc. • NMLS 1203862 • 2505 Wanakah Ridge Dr • Cedar Park, TX 78613 • www.srfreedom.com
2505 Wanakah Ridge Dr
Cedar Park, TX 78613
FHA insures fixed interest rate reverse mortgages, as well as annual and monthly
adjustable interest rate reverse mortgages. Borrowers have the ability to change
the way they receive payments from their HECM at any time provided funds are available.
Fixed interest rate reverse mortgages are limited to a Single Disbursement Lump Sum
Payment option where there is a single, full draw at loan closing and the mortgage
does not provide for future draws by the borrower under any circumstances. Adjustable
interest rate reverse mortgages provide for five, flexible payment options, all allow
for future draws of available funds. The amount of funds available to the borrower
is currently determined by the age of the youngest borrower (or Non-