| Reverse Mortgages from Dow Mortgage Co. |
| Is a Reverse Mortgage Right for You? |
Are you, or maybe a friend or family member, a
home owner who is 62 or older?
Could you, or they, benefit from extra income?
home owner who is 62 or older?
Could you, or they, benefit from extra income?
Facts About Reverse Mortgages --You retail full ownership of your home. --Amount received is based on your age, the value of your home and interest rate locked at application. --There are no income or credit qualifications. --You make NO monthly payments. --HUD insured program. --Does not affect Social Security or Medicare Benefits |
A reverse mortgage allows homeowners 62 or
older to convert the equity in their homes to cash. It
is a safe, government-issued program which results
in tax-free income.
The amount received is based in the borrower's
age, the value of the home and the interest rate.
The borrower retains full ownership of the home and
will never owe more than the value of the home.
When the home is sold or vacated for any other
reason, the accrued interest plus what the lender
has paid is due and payable, usually from the
proceeds from the sale of the home.
Any proceeds in excess of the amount owed the
lender belong to the borrower or the borrower's
estate.
older to convert the equity in their homes to cash. It
is a safe, government-issued program which results
in tax-free income.
The amount received is based in the borrower's
age, the value of the home and the interest rate.
The borrower retains full ownership of the home and
will never owe more than the value of the home.
When the home is sold or vacated for any other
reason, the accrued interest plus what the lender
has paid is due and payable, usually from the
proceeds from the sale of the home.
Any proceeds in excess of the amount owed the
lender belong to the borrower or the borrower's
estate.
| Dow Mortgage Co. 815-730-9400 1600 Plainfield Road Joliet, IL 60435 e-mail: dowmortgage@dowcompanies.com |
Equal Housing Lender
Illinois Residential Mortgage Licensee
| License # 5061 Illinois Department of Financial and Professional Regulation 310 S. Michigan Ave., Suite 2130 Chicago, IL 60604 312-793-3000 |
| “I can’t thank you enough for introducing me to the reverse mortgage. It’s almost like Christmas every month.” Chick S., Dow Mortgage Reverse Mortgage client |
 |
 |
 |
 |
 |