Reverse Mortgage Loan

Reverse Mortgage Loan: Financial Freedom for Seniors

A reverse mortgage loan is a specialized financial product for senior citizens, enabling them to convert the equity of their home into a steady income. This loan ensures a secure and dignified retirement, providing regular payouts while allowing you to retain ownership of your property.

Why Choose a Reverse Mortgage Loan?

Reverse mortgage loans are ideal for retirees seeking a stable income without selling their homes. It allows you to leverage the value of your property while continuing to live in it, offering financial independence during your golden years.

Features of Our Reverse Mortgage Loans

1. Steady Income: Regular payouts to support your retirement needs.
2. Retain Ownership: Continue living in your home without selling it.
3. No Repayment During Lifetime: Loan repayment begins only after the borrower’s passing.
4. Flexible Disbursal Options: Choose between monthly, quarterly, or lump-sum payments.
5. Tax Benefits: Monthly payouts are typically tax-free.

How Can a Reverse Mortgage Loan Help You?

1. Daily Expenses: Cover regular living costs and medical bills.
2. Medical Emergencies: Access funds during unexpected healthcare needs.
3. Home Maintenance: Renovate or repair your property.
4. Financial Security: Supplement your pension or other retirement income.

Eligibility Criteria

1. Age: Minimum 60 years.
2. Property Ownership: Must own a self-occupied residential property.
3. Documents Required:
   • Proof of identity and age.
   • Property documents for valuation.
   • Bank account details for disbursal.