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Profile:
81 year old man getting by with an income of $5,800 a month. Home value $2,800,000
Need:
A new roof and some very overdue renovations.
Solution:
A JUMBO reverse mortgage paid off his $600,000 home equity line of credit and he received a check for approximately $600,000.
Result:
New ruff and renovations completed. Also he purchased a new car and he now has money to travel and have more fun.
Note: The figures in the examples are approximate only and subject to change. The exact amount you qualify for is determined by the Jumbo plan selected, appraised home value limits, equity, interest rate, and age.
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