bond street mortgage loans

What is a Reverse Mortgage?

A Reverse Mortgage is a financial product that allows homeowners aged 62 and older to convert a portion of their home equity into cash. Unlike traditional mortgages, you don’t have to make monthly payments. Instead, the loan is repaid when you sell the home, move out, or pass away.

Why Choose Bond Street Mortgage Loans?


  • Expert Guidance: Our team of experienced professionals will guide you through every step of the reverse mortgage process, ensuring you make informed decisions.
  • Tailored Solutions: We offer a variety of reverse mortgage options tailored to meet your unique needs and goals.
  • Competitive Rates: Enjoy competitive interest rates and low fees with our transparent and straightforward pricing.
  • Comprehensive Support: From initial consultation to loan closing and beyond, we provide ongoing support to address any questions or concerns you may have.
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Benefits of a Reverse Mortgage


  • Access to Cash: Convert a portion of your home’s equity into cash for everyday expenses, home improvements, or other needs.
  • No Monthly Payments: You won’t have to make monthly mortgage payments, which can help improve your cash flow.
  • Stay in Your Home: Continue living in your home as long as you meet the loan requirements
  • Flexible Disbursement Options: Choose how you receive your funds—lump sum, monthly payments, or a line of credit.
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Who is Eligible?

To qualify for a reverse mortgage, you must

  • Be 62 years of age or older.
  • Live in the home as your primary residence.
  • Have sufficient home equity.
  • Meet income and credit requirements.
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Bond Street Mortgage Loans

Your Trusted Partner in Home Financing

At Bond Street Mortgage Loans, we are committed to helping you achieve your financial goals. Whether you’re looking to access cash from your home equity or simply explore your options, our team is here to provide the support and expertise you need.

Frequently Asked Questions – Reverse Mortgage Loans

1. What is a reverse mortgage?

A reverse mortgage is a loan available to homeowners aged 62 or older that allows them to convert part of their home equity into cash without selling their home or making monthly mortgage payments.

2. How does a reverse mortgage work?

Instead of paying the lender, the lender pays you—either as a lump sum, monthly payments, or a line of credit. The loan balance grows over time and is repaid when you sell the home, move out, or pass away.

3. Who qualifies for a reverse mortgage?

Eligibility requirements include:

  • Age 62 or older
  • Primary residence ownership
  • Sufficient home equity
  • Ability to maintain property taxes, insurance, and upkeep
4. What types of reverse mortgages are available?
  • Home Equity Conversion Mortgage (HECM) – FHA-insured and most common
  • Proprietary reverse mortgages – Private loans for higher-value homes
  • Single-purpose reverse mortgages – Offered by some state/local agencies for specific uses
5. Do I still own my home with a reverse mortgage?

Yes. You retain ownership and title as long as you meet loan obligations (taxes, insurance, maintenance).

6. How do I receive funds?

Options include:

  • Lump sum
  • Monthly payments
  • Line of credit
  • Combination of the above
7. Are there monthly payments?

No monthly mortgage payments are required. However, you must keep up with property taxes, insurance, and maintenance.

8. What happens when I move or pass away?

The loan becomes due. Typically, the home is sold to repay the balance. Any remaining equity goes to you or your heirs.

9. What are the costs of a reverse mortgage?

Costs include origination fees, closing costs, and mortgage insurance premiums for HECM loans. These can be financed into the loan.

10. What are the pros and cons of reverse mortgages?

Pros: Access to home equity without selling, flexible payout options, no monthly payments
Cons: Loan balance grows over time, reduces home equity for heirs, fees can be high

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