Retirement just got better: tap into your home's equity with a Mann Mortgage Reverse Mortgage.
Quite possibly the most powerful & useful loan program in the world, Reverse Mortgages allow you to use your home equity as YOU see fit - while still owning it.
What are reverse mortgages?
A reverse loan, also known as a reverse mortgage, is a type of loan designed for senior citizens aged 62 years and above who have equity in their homes. This type of loan allows homeowners to convert a portion of their home equity into cash without selling their homes or making monthly mortgage payments. The main benefits of a reverse loan include providing seniors with additional cash flow, paying off existing mortgage debt, and enabling them to remain in their homes. Ideal candidates for reverse loans are individuals who own their homes outright or have a small mortgage balance, have a need for additional cash flow, and plan to stay in their homes for an extended period.
Not sure where to get started? That's okay too, we're happy to meet you where you're at and direct you to the right place or person.
Reverse Mortgages at a glance.
- Mann Mortgage provides mortgage services to help people in these towns realize their dream of homeownership.
- One key feature of our reverse loans is our competitive interest rates which we believe will help our clients to save money over time.
- If you're a senior with limited income, a reverse loan can provide you with a steady stream of income to help you pay for your living expenses or other needs.
- The money you receive from a reverse loan can be used for anything you want, whether it's to pay for healthcare, home improvements, or travel.
- Our Great Falls branch is a well-established and reputable mortgage lender serving the towns of Highwood, Floweree, Vaughn, and Belt.
Applying for a home has
never been easier
Our quick and secure process takes less than 10 minutes to apply.
Learn more about
reverse mortgages
No, the money you receive from a reverse loan is typically not considered taxable income. However, you should consult with a tax professional to fully understand your tax obligations.
To be eligible for a reverse mortgage, you must be 62 years of age or older, have a significant amount of equity or own your home outright, and use the home as your primary residence.
Upfront, borrowers will pay an origination fee, closing costs, and an FHA MI fee of 2% of the home’s appraised value. Ongoing costs include an annual FHA MI of 0.5% of the outstanding loan balance. When the loan is due, the principal and interest are collected.
“I was initially apprehensive about Reverse Mortgages, but my banker recommended that I contact Mann Mortgage to discuss. We were glad we did. Our loan officer took us through the entire process, answered my numerous questions, and assured us that this product would meet our specific needs.”
Michael S.
Let's get you home.
0% down financing for homeowners 62 years and older. Our local loan experts will help guide you.
