Loan Programs

Reverse Mortgage

Are you a homeowner age 62 or better?

Consider our NewDay Reverse Mortgage Program. A reverse mortgage allows you to take advantage of your home equity without having to make monthly payments. In fact, you won’t even need to make your regular mortgage payment, because the first thing we’ll do is pay-off your mortgage. That can immediately boost your monthly cash flow by hundreds, even a thousand dollars or more back each month.

Most importantly, it can give you a lump sum of cash; possibly even tens of thousands of dollars, depending on the equity you’ve built in your home. You can use the money for virtually anything you wish. Most NewDay Reverse Mortgage customers use their money in a variety of ways, including:

• Quality of life. Extra money in the bank can make a big difference in your retirement years.
• Home improvements. You can use it to update your home to fit your changing needs and make it more enjoyable.
• Big expenses. Pay for the things you want or need. We can help you consolidate debt, pay for long-term care needs or medical expenses, help a child or grandchild with tuition — and more!