A federally insured loan
Reverse mortgages, explained plainly.
HUD created one of the first reverse mortgage programs, and it remains a federally insured private loan. Since your home is probably your largest single investment, it's worth knowing more before you decide whether one is right for you.
What a reverse mortgage is actually for
Seniors use a reverse mortgage to supplement social security, to meet an unexpected medical expense, or to make home improvements they've been putting off. It draws on the equity you've already built, rather than asking you to take on a new monthly bill. No payment is required until you or your co-borrower no longer use the home as your primary residence.
No pressure, just information
This isn't a decision to rush, and we won't rush you toward it. If you want to understand your options, call the office and ask for a plain walkthrough of how it would apply to your specific home and situation. If it isn't the right fit, we'll tell you that too.
IMS has been placing Iowa mortgages since 2005. Call (319) 377-1988 to talk it through, no obligation.
How it works, in plain terms
Your home, your equity, your timeline.
Federally insured
Reverse mortgages trace back to a program HUD created, and they remain a federally insured private loan today.
No monthly payment
No payment is required for as long as you or your co-borrower live in the home as your primary residence.
Common uses
Supplementing social security, covering an unexpected medical expense, or making the home improvements you've been holding off on.
Your home is probably your largest single investment, so it's smart to know more about how a reverse mortgage works before you decide whether one is right for you. Call (319) 377-1988 and we'll walk through it together, at whatever pace makes sense for you.