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Reverse Mortgage
Divorce Buyouts
Debt Consolidation
Home Improvement
Purchase
Refinance
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Elkwood, VA Reverse Mortgage in Virginia
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. Elkwood, VA 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!
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With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
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"I prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.
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