EquitiFirst Mortgage - Florida


7575 Dr. Phillips Blvd #245 | Orlando, FL 32819

NMLS #392376 | License #MBR1587

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Simple Facts - FAQs

Qualifying for a reverse mortage may be easier than you think. Talk with us today.

Frequently Asked Questions

What is a reverse mortgage?
The reverse mortgage is aptly named because the payment stream is “reversed.” Instead of making monthly payments to a lender, as with a regular mortgage, a lender makes payments to you.

What are the requirements for a reverse mortgage?
Your age (or the age of the youngest borrower, in the case of co-borrowers)
Your appraised home value
Amount of equity in the home

Can I get a reverse mortgage if I have an existing mortgage?
Yes, but the payments first go to pay off the mortgage.

Do I still own my home if I have a reverse mortgage?
Simply put, Yes.

What are the restrictions for the use of proceeds from a reverse mortgage?
There are no restrictions on how you can use the cash from the reverse mortgage.