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Turn Your Home Equity Into Peace of Mind

With a reverse mortgage refinance, you can access more funds, lower your rate, and live without monthly mortgage payments.

Looking To Refinance Your Home?

A reverse mortgage refinance loan, typically a Home Equity Conversion Mortgage (HECM), provides an attractive option for homeowners aged 62 or older looking to enhance their financial circumstances. These loans allow you to tap into your home's equity to secure more funds or lower your interest rate, while eliminating monthly mortgage payments. However, homeowners must continue to cover property taxes, insurance, and maintenance costs.

The amount available depends on factors like age, home value, and current interest rates. The loan is repayable when the borrower moves out, sells the home, or passes away. Explore the benefits of a reverse mortgage refinance loan today, and optimize your financial freedom during your golden years.

There are several reasons why someone might want to do a mortgage refinance review:

  • Lower Interest Rates: If interest rates have dropped since you took out your original mortgage, you may be able to lower your monthly payments by refinancing at a lower rate.

  • Shorter Loan Term: Refinancing to a shorter loan term can help you pay off your mortgage faster and save money on interest over the life of the loan.

  • Change in Financial Situation: If your financial situation has changed, such as an increase in income or a decrease in debt, you may be able to qualify for a better interest rate or more favorable loan terms through refinancing.

  • Cash Out: Refinancing can also provide an opportunity to take cash out of your home equity to use for home improvements, debt consolidation, or other expenses.

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HELOC vs. Home Equity Loan

How Much Can I Borrow?

5 Smart Ways to Use Home Equity

First-Time Homebuyer Checklist

Company

About Fannie Mae West

Our Lender Network

Blog

Contact Us

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