A reverse mortgage is a special loan designed for seniors that allows you to turn a portion of your home’s equity into tax-free cash. Unlike a traditional mortgage, where you make monthly payments to the lender, with a reverse mortgage the lender pays you. You remain the homeowner, continue living in your home, and are responsible only for property taxes, insurance, and home maintenance.
You must be 62 or older and live in the home as your primary residence.
Choose a lump sum, monthly payments, or a line of credit you can draw on as needed.
The loan is repaid when you sell the home, move out permanently, or pass away. Any remaining equity belongs to you or your heirs.
No Monthly Mortgage Payments
One of the biggest advantages is that you are not required to make monthly mortgage payments. Instead, the loan balance grows over time and is only repaid when the home is sold, the borrower moves out, or passes away. This frees up your monthly cash flow, giving you more financial flexibility to cover living expenses, medical bills, or personal needs.
Stay in the Home You Love
With a reverse mortgage, you retain full ownership and occupancy of your home. You don’t have to sell or downsize — you can continue living in the place where you’ve built memories, raised your family, and feel most comfortable
Heirs Keep Remaining Equity
When the loan is repaid (typically through the sale of the home after the borrower moves or passes away), any remaining equity after the loan balance is settled belongs to you or your heirs. This ensures that your family can still benefit from your home’s long-term appreciation.
Steve J. Shalaby NMLS# 363374
Streamline Financial Group ,INC. NMLS#379306
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Streamline Financial Group, Inc.
2901 Clint Moore Rd. #208
Boca Raton, FL 33496
Office Number: (561)364-LOAN
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