Free Reverse Mortgage PDF's
Hawaii Reverse Mortgage Directory
Hawaii Reverse Mortgage Specialists
Welcome to the Hawaii reverse mortgage directory. We are currently accepting listings in our Reverse Mortgage Directory for each state. If you are an Hawaii reverse mortgage broker or Hawaii reverse mortgage lender and would like to be listed on this page, please Contact Us for listing details and costs.
Understanding HI Reverse Mortgages
It's been said that the best kind of loan is one that you don't have to pay back. Well the Hawaii reverse mortgage comes about as close to that as possible. Reverse mortgage proceeds do have to be repaid, but not in the borrowers lifetime. One stipulation is that the borrower must live in the home as a primary residence, but for most seniors, this is the desire, to retire in the home they have worked so hard to pay for. As more people are finding out, Hawaii reverse mortgages allow the home to actually pay them. See below for more rules on reverse mortgages in Hawaii.
Hawaii Reverse Mortgage Benefits
- >> The money you receive is tax free income
- >> No payments as long as you live in the home
- >> No credit or income requirements
- >> Reverse mortgages are supported by AARP
- >> Reverse mortgages are insured by the FHA
Hawaii Reverse Mortgage Requirements
- >>Borrowers must be Age 62 years or older
- >>Own their home and have enough equity in to qualify
- >>Occupy the home as primary residence
- >>Receive counseling by an approved HUD/FHA counselor
- >>The home must be in reasonably good repair
Hawaii Reverse Mortgage Payment Options
- >> Lump sum disbursement
- >> Monthly payments
- >> Line of credit
- >> A combination of the Above
Revere Mortgage Resources
We do not make loans. If there is not a licensed representative in your area feel free to inquire with HUD, or the mortgage regulatory body in your state for more information on reverse mortgages. You may also contact the National Reverse Mortgage Lenders Association, or "NRMLA" for a licensed representative in your state.
