Please let me help educate you. For a free, no pressure, informative, reverse mortgage quote, please call
800-361-9357

"A Reverse Mortgage isn’t for everyone, but for those who can benefit from it, it’s life changing."
- Bryan Wild


What are the Pros & Cons to a Reverse Mortgage?

  • Pro- you are able to live in your home for the rest of your life.
  • Pro- quality of retirement improves.
  • Pro- able to retire earlier.
  • Pro- you don’t have a mortgage payment.
  • Pro- able to tax free create income.
  • Pro- won’t affect your social benefits.
  • Pro- frees up income for other living expenses.
  • Pro- able to leave home to your heirs.
  • Pro- FHA loan.
  • Pro- able to tax free create income.
  • Pro- Has fixed rates or Adj. Line of credit.
  • Pro- Able to maximize your financial portfolio.
  • Con- Your balance of the loan goes up.
  • Con- Won’t have as much equity to give to heirs.
  • Con- FHA Mortgage Insurance can be expensive.

Reverse Mortgage

A Reverse Mortgage is a wonderful retirement tool. Often this is the last tool needed for a stress free retirement!

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A reverse mortgage is for anyone who is retired or is about to retire, who doesn’t have the retirement income or assets to retire AND accomplish everything on their bucket list.

A Reverse Mortgage is a retirement tool designed to help keep seniors in their homes for the rest of their lives. The new Reverse Mortgages are not the same reverse mortgages you’ve heard about in the past. There have been dramatic changes over the past decade.

A Reverse Mortgage is the most flexible loan in the industry. It can be used on your current home or to buy a new home. They have fixed rate options or lines of credit options. With either loan program, you can pay off your current loan; eliminating your mortgage payment. Imagine, not having a mortgage payment. Imagine what you could now do with that money. How would that effect your monthly budget on a fixed, retirement income? Often times, this is the final tool needed to insure that you can live comfortably.

A majority of people over 62 would have enough income to retire, if they didn’t have a mortgage payment. Think about it; That $1,000 to $2,000 that you are spending on a mortgage, can now be spent in other areas. That’s a $2,000 to $4,000 swing in your monthly budget! In some cases, it’s even more. Ask yourself how much your quality of life will increase. Peace of mind.

Most retirees can live off their social security and pensions if they didn’t have a mortgage payment. Even without a large savings….

Think about all your goals you would like to accomplish with a reverse mortgage.... and give me a call at 800-361-9357. I would be more than happy to help educate you on how you can accomplish your goals.

Reverse Mortgage - Reverse Mortgage (known as a HECM- Home Equity Conversion Mortgage) is a FHA (government insured) loan. A Reverse Mortgage is a loan that allows the senior who lives in the home and qualifies to access a portion of their equity without being required to make a monthly mortgage payment for as long as they live in the house and keep their property taxes and homeowners insurance current.

  1. Eliminate mortgage payment
  2. Create income for a fixed monthly budget
  3. Tax free income
  4. Will not affect benefits
  5. Still own your home
  6. Government Loan – FHA
  7. Relaxed qualifying guidelines

Reverse Mortgage proceeds are tax free, not considered income and generally do not affect any benefits. Cash out from a Reverse Mortgage is not considered income, because the homeowner is paying interest on the loan. However, every financial situation is different and in some cases, cash out from a Reverse Mortgage can affect Government Benefits, not because of income, but rather balances in bank accounts. Sierra Reverse Mortgage always encourages a consult with a financial advisor.

Q&A

- 62 years old. Spouses younger than 62 are now allowed.
- Yes. This is a loan. You still have every ability to leave your home to your heirs.
- No. Because this is a loan, this is considered loan proceeds. Not income. So it doesn’t affect any benefits that are income based.
- No. As long as you live in the property as your primary residence; pay your property taxes and homeowners insurance, you can live in your home for the rest of your life, regardless of age.
- Yes. You still own your home. You can do anything you would normally do with your home.
- 99% of reverse mortgages are FHA loans. So the Government oversees or audits most aspects of Reverse Mortgages by forcing lenders to fund to Government FHA Guidelines.
- If you are wondering about a reverse mortgage, probably sooner than later. If you get one while you are still working; you are able to save up that much more of your assets in the last couple years of working. If you are retired; you are able to maximize the length of your retirement portfolio by drawing less from it early in your retirement. In some cases, you are able to hold off on starting your social security, maximizing your monthly benefits.
- You need to know that you still have to pay your property taxes and homeowners insurance. You must live in the home as your primary residence. The loan balance goes up if you don’t make payments.


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