We know you’ve worked hard over the years to pay down your mortgage. Your home has increased in value, and now, with a Benson Reverse Mortgage, you can use some of that equity to finance your retirement, without having to sell your home. You can convert up to 55% of your home’s value into tax-free cash. You don’t have to move, you’ll still own your home, and there are no payments for as long as you stay in your home. Upgrade your home, pay your bills, or use the money for everyday expenses, you can live in the comfort of your home, without the stress of monthly loan payments.
The amount you qualify for will depend on the following factors:
- the age of all title holders to the property;
- the property type and location of your home; and,
- the current appraised value of your home.
Once we establish how much you are eligible for, you get to decide how you would like to receive the payments. You can take one lump-sum payment, scheduled monthly payments, or a combination of the two.