Security and Peace of Mind

Once we reach retirement age, we think of all the things we've accomplished and would like to take time to simply enjoy life.

We would like to possibly travel or take up a hobby that we did not have the time or money for when we were younger. We might want to assist our grandchildren with college, or just buy something that is new.

Whatever the reason, a reverse mortgage can assist you with those needs. You can tap into the equity of your home and not have to make any monthly payments, as long as youi live there.

Our goal is to help you have security and peace of mind, so you can simply enjoy life!

What is a Reverse Mortgage?

• A reverse mortgage is a non-recourse loan (payment amount never exceeds the value of the home) for senior homeowners age 62 and older.
• A reverse mortgage allows borrowers to convert home equity into unrestricted use of cash and does not require repayment until the homeowner(s) moves out permanently, sells the house, or passes away.
• The loan amount available to the borrower is based on the age of the homeowner(s), valuse of the home, location of the home, and the interest rate based on the 10 year treasury bill.
• You may receive these funds by once of these three programs

  Lump Sum Payment
  Monthly Payment
  Line of Credit

• You do not have to qualify
• You may use the money any way you want.
• No repayment is made until you no longer live in your home.

Visit reversemortgages.swbc.com for more information about the process, a list of frequently asked questions, and a calculator to help estimate the amount available to you.