Mortgage Refinance, Reverse Mortage, Home Loan

Reverse Mortgage Divorce Buyouts Debt Consolidation Home Improvement Purchase Refinance

Search Somerset:

Learning Center

How Home Equity Works Consolidating Debt Home Equity Loan vs. Home Equity Line of Credit How Much Mortgage Can I Afford How to Apply for a Mortgage Reasons to Refinance Now How FHA Loans Work How Reverse Mortgages Work Why Choose an FHA Mortgage Mortgage Glossary View All Mortgage Articles

Mortgage Tools

Mortgage Payment Calculator How Much Can I Afford?Debt Ratio Calculator Refinance Savings Calculator Mortgage Comparison Calculator Second Loan vs PMI Calculator Mortgage Length Calculator Mortgage Principal Calculator View All Mortgage Calculators

Company

About Somerset Contact Us Driving Directions Licensed States Careers

Loan Programs

Apply Online View All Loan Programs

Shannock, RI Reverse Mortgage in Rhode Island

If you’re a homeowner 62 years or older, consider the tax-free income benefits of a Reverse Mortgage. Unlike a regular mortgage, with reverse mortgages the lender makes payments to you. Shannock, RI residents can choose to receive the money from a reverse mortgage in fixed monthly payments, a line of credit, or in a lump sum. More than 55% of borrowers choose the line of credit, which allows you to draw from the loan at any time.

The amount of your reverse mortgage is determined primarily by your age and appraised home value. To find out just how much you can get, speak to one of our Reverse Mortgage Specialists today!

Return to reverse mortgage in the state of RI

Bad Credit? click here.

Call for COMPLETE details NOW!

(800) 675-9783

Shannock, Rhode Island News
URI creates growing legacy to Kathleen Mallon URI names Cooperative Extension Education Center for the late Kathleen Mallon, a community organizer from Westerly.
Dams and fish ladders The new director of the Wood Pawcatuck Watershed Association has his hands full these days.
Cleanup at old Kenyon Piece landfill starts up An estimated six-month-long cleanup is currently in full swing at the former Kenyon Piece landfill located on Sand Plain Road in Charlestown.
Shannock takes a look into the future CHARLESTOWN Some thought its heyday was a full decade before the Great Depression, when local mills were at their peak.
Rhode Island's Nuclear Fatality Part IV Who Pays? United Nuclear was welcomed into Rhode Island in 1963 with hopes of 1000 good jobs and a chance to get in on the cutting edge of a new industry.
Lawmaker leaves Senate for dairy farm Republican Kevin A. Breene of West Greenwich turns down potential seventh term to restart dairy farm.

Save time with our easy online mortgage application.

With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.

Learn More

"...I was sure that Somerset was the right choice...they couldn't have been more compassionate or understanding...I just couldn't believe that this all happened within a week...Thanks to my loan officer and all the rest of those great people at Somerset, my family will be able to stay in the only home they have known for some time, without fear of being put out." - Tom N.