Maryland Reverse Mortgages

Maryland FHA Reverse Mortgage Information

With millions of baby boomers approaching retirement, many of these seniors are wondering if a reverse mortgage is right for their situation. For seniors living in Maryland, the most popular reverse mortgage program is the FHA HECM reverse mortgage program. Seniors who have a reverse mortgage in Maryland say they like their FHA reverse mortgage because it allows easy access to tax free retirement funds.

Maryland FHA Reverse Mortgage Highlights

• Interest rates for the FHA HECM reverse mortgage program can be variable or fixed
• No mortgage payments are required for as long as you live in your home
• Get your money either in a line of credit, monthly installments or a lump sum

Maryland FHA Reverse Mortgage Program Requirements

In order to qualify for the FHA reverse mortgage program, a senior must meet the following requirements: You must be age 62 or older, have equity in the home, occupy the home as your primary residence, attend a reverse mortgage counseling session and agree to keep the home in good repair. Qualifying for the FHA reverse mortgage program is not very difficult as long as you meet these criteria.

Maryland FHA Reverse Mortgage Program: The First Step

In order to learn more about the FHA reverse mortgage programs and to see if one is right for you, be sure to speak with a loan officer who has experience with Maryland FHA reverse mortgages and who will help you find out if it is right for you. Contact an experienced Maryland reverse mortgage loan officer now!