The Pros AND Cons of Reverse Mortgages

The Pros AND Cons of Reverse Mortgages

Qualify for MoreThere are many strong reasons to get a reverse mortgage. There are also some downsides. While these loans are very popular, getting one is a huge financial decision. Before talking with a lender, explore the pros and cons in great detail.

Here are 3 quick key considerations:

  1. Con: It’s a loan. You pay fees and interest to get the many benefits a reverse mortgage provides.
  2. Pro: Reverse mortgages can give you access to money to spend however you like.
  3. Pro: reverse mortgage enables you to live in your home for as long as you want with absolutely no monthly mortgage payments.

Reverse mortgages can be a great solution for your retirement. But you really want to make sure that it is right for YOU.

For more information, take the Reverse Mortgage Suitability Quiz. Or, get an instant estimate of your Reverse Mortgage loan amount with the Reverse Mortgage Calculator.