Reverse Mortgage Overview
The loan concept was conceived as a means to help retirees with limited income use the accumulated wealth in their homes to cover basic monthly living expenses and pay for health care. However, there is no restriction how reverse mortgage proceeds can be used.
The borrower is not required to pay back the loan until the home is sold or otherwise vacated. As long as the borrower lives in the home he or she is not required to make any monthly payments towards the loan balance. The borrower must remain current on property taxes, homeowners insurance and homeowners association dues (if applicable).
Let us send you our information packet so you can review it in the comfort of your own home.
To discover your best reverse mortgage options please click on the link and we’ll mail (at no cost to you) a reverse mortgage packet to review.
Welcome to AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. NMLS 13392 (HEREINAFTER REFERRED TO AS “ANMC”, “WE”, “US”). “ANMC” IS NOT A LICENSED BANK, OR SOLICITOR OR AS DEFINED BY FEDERAL, STATE OR LOCAL LAW. “ANMC” PROVIDES THE INFORMATION IN THIS SITE SOLELY FOR THE PUBLIC USE AND MEMBERS AND IN NO WAY PROCLAIMS TO BE A BANK INSTITUTION.
Credit products offered by AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. are subject to normal credit approval and program guidelines. Rates, and terms are based on creditworthiness and subject to change, additional documentation may be required. Application is subject to approval. Some restrictions and fees may apply.
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Want Us To Mail You
Reverse Mortgage Information?
If you would rather look over a packet of papers in the comfort of your home to best discover your reverse mortgage options please click on the link and we’ll mail (at no cost to you) a reverse mortgage packet to review.