You've worked hard to provide a home for your family. But even with all that work, sometimes you need extra money. That's when it makes sense to let your home work for you. Now you can get the money you need with a reverse mortgage from Unity Mortgage. Isn't it nice, knowing all that hard work keeps paying off?

What is a Reverse Mortgage?   A reverse mortgage is a special kind of mortgage loan for seniors. It is a safe and easy way to turn your home equity into cash. Unlike a home equity loan, you do not have to make monthly payments. Instead, a reverse mortgage PAYS YOU. More importantly, you do not have to repay the loan for as long as you live in your house. It's a great way to keep your home and get money from it at the same time.

How Much Can I Qualify For?
The amount you can borrow is based on the value of your home, the number of borrowers, and the age of the borrowers. Check the chart to see how much you might qualify for:    (Varies by interest rate and geographical location.)

                                                  AGE        ADJUSTED PROPERTY VALUE

                                                                        $100,000      $150,000     $200,000

                                                    70                    35,505         55,855         76,205

                                                    80                    59,235         91,285       123,335

                                                    90                    68,097        104,147      140,197

When Must I Repay the Loan?   You must repay the loan if you no longer live in your home.* In the event of your death, your heirs can choose to repay the loan and keep the house, or sell the house and repay the loan.   *Note: Some newer types will guarantee an income for life even if you sell your house and move.

What about interest charges and fees? Reverse mortgages charge interest at an adjustable rate. This means that the interest rate you are charged can change periodically. This does not affect the amount of money you receive. You pay the interest at the time the loan is repaid. You also incur closing costs and fees when you obtain a reverse mortgage. These items can be included in your loan, so you don't have to pay cash for them.

Are Reverse Mortgages safe? Reverse mortgages are very safe. FHA and FannieMae GUARANTEE the payments that are made to you. They also guarantee that you can stay in your home as long as you like, and you will never owe more than you house is worth.

What are people saying about Reverse Mortgages?

To learn more, contact you local Unity Mortgage representative. If you decide to apply, you will be required to attend a free counseling session with an independent third party counselor, to make sure a reverse mortgage is appropriate for your situation. Unity Mortgage Corp. wants to help you make an informed decision.

For a referral to your nearest Unity Mortgage Corporation office nationwide, contact Jack Dickerson, in the Northern California office at 530 474 4487. Or email him for information.