Reverse Mortgage Loans* with the Score Team

A Reverse Mortgage is just like any other type of mortgage, with one exception; you don’t have to make a payment. A Reverse Mortgage serves as a loan for homeowners over the age of 62 by using part of the home equity as collateral.  This means the loan normally does not require repayment until the last surviving homeowner permanently moves out of the property or passes away. At that point, any remaining equity will be inherited by the estate. Learn more about reverse mortgages by calling the Score Team at  (314) 607-5566!


*Borrower is responsible for paying taxes, insurance, and other property expenses. Borrower must occupy home as their principal residence. A new loan will require a new credit check, appraisal, title search, initial mortgage insurance premium, closing costs and fees. Consult your tax advisor.

Do you Qualify for a Reverse Mortgage?

Applicants looking to qualify for a Reverse Mortgage must be 62 years or older, own the property, and it is their primary residence. In addition, they must maintain the upkeep of  the home with timely repairs, property taxes and insurance. Also, the property does need to meet certain FHA property standards. Finally, the applicant must participate in a reverse mortgage counseling session (this can be done over the phone or in-person.)

Features and Benefits of Reverse Mortgages

  • Better than selling:

    In addition to the incredible time and effort, selling your home eliminates one of your largest and most secure investments. On top of that, moving can be emotionally and physically exhausting. Then you may have to pay rent or make another monthly payment that takes away from your lifetime savings.

  • Greater fund flexibility:

    A Reverse Mortgage can give you the ability to use your home equity while actually living in your own home. You can use the tax-free proceeds in a number of ways, including taking your proceeds as a line of credit, monthly advances for a set period of time, a monthly stream of funds for as long as you live in your home, a lump sum, or a combination of these options.

  • No monthly mortgage payments:

    If you qualify and have an existing mortgage, home equity loan or any other type of debt, you can pay it off and reduce your monthly expenses. And if you own your home, you can access additional funds you may need, also with no monthly mortgage payments.

Call the SCORE Team today!