What is it?
A reverse mortgage is a financial option that enables homeowners aged 62 and older to borrow against the equity of their homes without the obligation of making monthly mortgage payments. Instead, the borrower has the flexibility to receive funds in different ways, such as a lump sum, a line of credit, or structured monthly payments. The loan repayment becomes due when the last surviving borrower permanently leaves the home.
How It Works:
- Discover a unique way to leverage your home’s equity
- The percentage you can access is determined by the age of the youngest borrower
- Say goodbye to monthly mortgage repayments
- Enjoy tax-free funds that can be utilized for a myriad of purposes
- Repayment occurs upon your passing or when you decide to sell your home
- Secure the future for your heirs with any remaining equity they inherit
Achieve Your Goals
with Strategy
CT Insurance Agency is a reliable and reputable firm committed to delivering competitive insurance products and exceptional personalized service to our esteemed clients. Our team of highly skilled professional Medicare Insurance Brokers in CT is dedicated to attentively understanding our customers’ requirements and priorities. We take pride in offering tailored insurance solutions to meet their unique needs.