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Types of Loans: Informational Downloads:
Your Reverse Loan Options:

HECM (Home Equity Conversion Mortgage)
This type of loan represents 95% of all Reverse Mortgages.

bullet Guaranteed by FHA/HUD
bullet Flexible Income Payment Option
bullet Growing Line of Credit
bullet Loan Proceeds are Tax-free

HomeKeeper by Fannie Mae
bullet Guaranteed by Fannie Mae
bullet No Line of Credit Growth
bullet No income qualifications
bullet Loan Proceeds are Tax-free
bullet Generally lower closing costs

Cash Account Plan
bullet Flexible Income Payment Options
bullet Growing Line of Credit
bullet Proceeds/advances are not taxable
bullet No prepayment penalty
bullet Generally has higher closing costs
bullet No Maximum Lending Limit

The NRMLA Consumer Guide to Reverse Mortgages
NRMLA's first consumer guide to help educate senior's about reverse mortgages.

Using Reverse Mortgages for Health Care: A NRMLA Guide for Consumers
This guide helps explain how reverse mortgages can be used to help pay for your health care needs and preserve your financial security.

Just the FAQs: Answers to Common Questions About Reverse Mortgages
This guide lists the most common questions asked by consumers about reverse mortgages—with the answers from the National Reverse Mortgage Lenders Association. The questions are broken into three groups: those appropriate to ask before getting a reverse mortgage; those applicable during a reverse mortgage; and those applicable at the end of a reverse mortgage.

FannieMae's Money From Home
A detailed guide to understanding reverse mortgages.

AARP's "Home Made Money"
A Consumer's Guide to Reverse Mortgages"

Considering a Reverse Mortgage?
Review these 5 steps to see if a Reverse Mortgage is right for you. 

What is a Reverse Mortgage?
A reverse mortgage is a special type of loan used by older Americans to convert the equity in their homes into cash. The money from a reverse mortgage can provide seniors with the financial security they need to fully enjoy their retirement years.

The reverse mortgage is aptly named because the payment stream is "reversed." Instead of making monthly payments to a lender, as with a regular first mortgage or home equity loan, a lender makes payments to you.

While a reverse mortgage loan is outstanding, you continue to own the home and hold title to it.

The money from a reverse mortgage can be used for ANYTHING: daily living expenses; home repairs and home modifications; medical bills and prescription drugs; pay-off of existing debts; continuing education; travel; long-term health care; prevention of foreclosure; and other needs.
Who Qualifies?

To qualify for a reverse mortgage you must be at least 62 and own your own home. There are no income or medical requirements to qualify. You may be eligible for a reverse mortgage even if you still owe money on a first or second mortgage. In fact, many seniors get a reverse mortgage to pay off a first mortgage.

You can choose how to receive the money from a reverse mortgage. The options are:

bullet all at once (lump sum)
bullet fixed monthly payments (for up to life)
bullet a line of credit
bullet or a combination of these.

The most popular option - chosen by more than 60 percent of borrowers - is the line of credit, which allows you to draw on the loan proceeds at any time.

Contact Us
Golden State Mortgage Trust
6809 Indiana Ave. Suite 200
Riverside, Ca. 92506
800/698-6731
info@reverseloan.com





We do reverse loans in California only.
 

Golden State Mortgage Trust, Inc.  ◦ 6809 Indiana Ave. #200 ◦ Riverside, Ca. ◦ 92506 ◦ Phone: 800/698-6731