Turn your home’s equity into lasting peace of mind
If you’re 62 or older and looking for ways to improve your financial security during retirement, a reverse mortgage may be the solution for you. This unique lending option allows you to access the equity in your home without having to sell or move—giving you financial freedom to enjoy the years ahead.Why a reverse mortgage?
- Supplement your monthly income
- Pay for healthcare and long-term care needs
- Cover unexpected expenses
- Make home improvements
- Maintain your financial independence
Who is eligible?
- Are 62 years or older
- Have equity in their home
- Use the property as their primary residence
Ready to Explore Your Options?
(630) 547-8968 office
(224) 763-5400 cell
jschlies@firstambank.com
First American Bank is a full-service bank with branches in Illinois, Wisconsin and Florida.
Disclosures
Subject to eligibility requirements and approval. Standard rates apply. Home Equity Conversion Mortgage (HECM) Counseling is required. Borrower must be 62 years of age or older and occupy the residence as their primary residence. Ongoing obligations include payment of property taxes, homeowner’s insurance, homeowners association dues (if applicable), and required home maintenance. Failure to meet these obligations may result in default. The loan becomes due and payable when the last remaining borrower (or eligible non-borrowing spouse) passes away, sells the property, permanently moves out, or fails to meet the loan requirements. Not all borrowers will qualify. Additional terms and conditions apply.