Retire with all the Comforts of Home
You've worked hard for the equity in your home - now it's time to let it work for you. Use it for traveling, medical bills or just to improve your quality of life. If you're at least 62 years old and interested in putting your home to work for you, a Reverse Mortgage from Prospect Mortgage may be the right solution for you.
A Reverse Mortgage offers:
Access to Extra Income
Get monthly payments paid to you instead of making them. You will not be required to repay the loan as long as you live in your home.
Come as you are
There are no income, employment or credit qualifying restrictions.*
Flexible Disbursement Options
You can secure your loan proceeds in a lump sum to cover large expenses, in monthly installments to supplement your income, or as a line of credit to draw on as you need it. You can even choose an immediate cash advance in addition to monthly allotments. Payment can be adjusted as circumstances change.
Principal or interest payments are not due until you move, sell the home, or pass away, provided all program requirements are met.
Peace of Mind
The amount you owe can never exceed your property value, so your Reverse Mortgage can never cause you to lose your home.
Equal Housing Lender. Prospect Mortgage is located at 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA 91403. Prospect Mortgage, LLC (Unique Identifier #3296) is a Delaware limited liability company licensed by the CA Dept. of Corps. under CRMLA and operates with the following licenses: AZ Mortgage Banker License #BK0903027, #BK0909362, #BK0908046, #BK0908050, #BK0908056, BK#0908057, #BK0908058, #BK0908731, BK#0903112, BK#0903912, BK#0906650, BK#0906913;
To check the license status of your CO mortgage broker, visit www.dora.state.co.us/real-estate/index.htm;
GA Residential Mortgage License #16984; IL Residential Mortgage Licensee #6424; MA Mortgage Lender/Broker License #MC2011; MS Licensed Mortgage Co.; MT Residential Mortgage Lender Licensee #120; NV Division of Mortgage Lending Mortgage Banker #1173 and Mortgage Broker #3095; Licensed by the NH Banking Dept.;
Licensed Banker-NJ Dept. of Banking and Insurance #9932415; Operates as Prospect Lending, LLC in NY (Licensed Mortgage Banker-NYS Banking Department); Operates as Prospect Mortgage, LLC of Delaware in OH (Ohio Mortgage Broker Act, Lic # MB.803629.000); OR Mortgage Lender Licensee #ML-2006; PA Dept. of Banking license #1740;
RI Licensed Lender #20021343LL, Broker #20041643LB; licensed by the VA State Corp. Commission as MC-2195. This is not an offer for extension of credit or a commitment to lend. All loans must satisfy company underwriting guidelines. Information and pricing are subject to change at any time and without notice. This is not an offer to enter into a rate lock agreement under MN law, or any other applicable law.
