Reverse Mortgage for Purchase

What to review

• Review age, occupancy, property, financial-assessment and counseling requirements.
• You remain responsible for property taxes, insurance, maintenance and applicable property charges.
• Interest and fees can increase the balance and reduce equity. Repayment is generally triggered by a qualifying event such as sale or no longer occupying the home as required.
• Review cash needed to close and alternatives with a qualified advisor before committing.

A clear next step

Talk with S&S about your goals, timeline and property. We’ll explain the documentation and compare the options available for your situation. Program availability and approval are subject to lender review.