Reverse Mortgage Loan for Senior Citizens in India

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REVERSE MORTGAGE
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• What is Reverse Mortgage?
• Reverse mortgage is a home loan wherein the
  borrower will receive the loan amount in monthly
  instalments for a house he/she owns.
• A reverse mortgage allows people to pull the
  equity out of their home. It is a solution that
  many older people are turning to help them
  through retirement.

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• How It Works
• Access a portion of your homes equity.
• Percentage is based on age of youngest borrower.
• Make no monthly mortgage repayments.
• Funds are tax-free, and may be used for virtually
  anything.
• Loan is repaid when you pass away or sell your
  home.
• Any remaining equity belongs to your heirs.

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• What are Reverse Mortgage Benefits?
• Being able to get an advance on home equity gives
  seniors the ability to meet increasing financial
  burdens in spite of a decreasing income.
• The reverse mortgage benefits is that it allows
  older homeowners to withdraw some of the equity
  in their homes and convert it into cash.

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Who is Eligible for a Reverse Mortgage?

• Age at least 60 years old.
• Own your home or have built up equity in your
  property.
• Have no debts.
• Pay all property taxes, insurance and maintenance
  fees.

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Reverse Mortgage Advantages

• Improvement In Immediate Finances
• Flexibility Of Use
• Low To No Defaulting Risk
• Repayment Benefit
• Minimum Requirements

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Frequently asked Reverse Mortgage Queries
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Frequently asked Reverse Mortgage Queries
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