Reverse Mortage | Bay Equity Home Loans

Reverse Mortgage

Using years of your investment
to enjoy the years ahead.

What is a reverse mortgage?

For homeowners 62 or older, a reverse mortgage is a type of home loan that allows you to convert a portion of the equity in your home into cash. That means the equity you’ve built up over the years of making mortgage payments can now be paid back to you. How you use the funds is up to you.

What are the benefits of a reverse mortgage?

  • Get tax-free income from your home
  • Receive funds as a lump sum or as a line of credit
  • No monthly mortgage payments required
  • More money in your pocket to use as you will
  • Maintain ownership of your home

And unlike a traditional home equity loan or second mortgage, reverse mortgage borrowers don’t have to repay the loan until they’re done using the home as a principal residence (or fail to meet the obligations of the mortgage).

What are the current reverse mortgage rates?

Interest rates on reverse mortgages change all the time based on market trends. While we can’t guarantee your specific percentage here and now, talk to one of our loan officers to lock in your exact interest rate.

How do I qualify for a reverse mortgage?

It might sound like a lot, but qualifying for a reverse mortgage is less complicated than you might expect. Here are the basic requirements:

  • The homeowner must be 62 or older
  • The homeowner must live in the residence
  • The home must have sufficient equity

Think you meet the requirements to make a reverse mortgage work? Talk to one of our loan officers to discuss the pros and cons and explore your reverse mortgage solutions.


Home-buying by numbers


Your monthly mortgage
Estimate includes principal and interest only. It does not include taxes and insurance. Talk to a loan officer for specific calculations.


What’s your monthly payment?

Estimate your monthly mortgage with this home loan calculator. Just remember, your results are only estimates.

Talk to one of our loan officers to get an official figure. We’re here to help.

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