Line of Credit Option is Earning Interest, Right?
No, you're not earning interest.
The growth factor, which is equal to roughly the interest that you're being charged, takes into consideration that your home has appreciated in value over the past 12 months and that you are one year older.
Beware of Reverse Mortgage Lenders that tell you that you are earning interest as they do not understand the reverse mortgage program or they are not being honest with you.
Call or fill out our Quote Form and we will honestly and fairly show you how the Line of Credit Option may work for your situation.
More Colorado Reverse Mortgage Loan Information:
About Colorado Reverse Mortgages! | Does My Home Qualify? | How Much Money Can I Get? | What are My Payment Plan Options? | Line of Credit Option is Earning Interest, Right? | How Can I Use the Proceeds from a Colorado Reverse Mortgage? | How Does the Interest Work on a Colorado Reverse Mortgage? | Are There Any Special Requirements to Get a Colorado Reverse Mortgage? | What If I Have An Existing Mortgage? | What Is the Service Fee Set-Aside? | Will I Lose My Government Assistance If I Get a Colorado Reverse Mortgage Loan? | Why Do I Need to Get Counseling? | When Do I Pay Back My Loan?