It's helpful to work with reverse mortgage licensed specialists in the area because they understand the real estate environment in your state. Please fill out the form on this page to have a reverse mortgage specialist contact you. And of course, if you have any questions about applying for a reverse mortgage in Alaska, don't hesitate to contact one of our specialists at any time.Seniors who are at least 62 and living in Alaska, may want to consider a reverse mortgage. Many Alaska residents like you are using reverse mortgages to pay off bills, perform home renovations, and live a more financially-free retirement.
Why Apply for a Reverse Mortgage?The residents of Alaska have many reasons to consider a reverse mortgage, but two factors - financial security and quality of life - are the most prevalent. Living on a fixed budget can be stressful and while many seniors live with financial pressure, the home equity they fought so hard to build sits untouched. A reverse mortgage gives its borrowers access to that unused equity in their home. There are a couple different options a reverse mortgage offers: a line of credit, monthly disbursement, lump sum payment, or some combination of the three. Also known as a HECM, or home equity conversion mortgage, a reverse mortgage uses your existing equity to pay off your remaining mortgage balance, while any remaining money becomes available for your use with no limitations.
Reverse Mortgage OptionsAlaska residents have three reverse mortgage options to choose from that are all federally insured. A fixed reverse mortgage provides a lump sum disbursement of money and a locked loan interest rate at the time of closing. HECM line of credit loans provide a number of options, including a draw on the line of credit at closing, monthly payments, or full access to your line of credit when you need it. The third option is a reverse mortgage for purchase, which helps seniors purchase a home with no monthly payments.* With any reverse mortgage option, you are still required to pay property taxes and insurance and maintain the home.
Finding Reverse Mortgage Specialists in AlaskaPlease fill out the form on this page to have a reverse mortgage specialist contact you. You may also give us a call to answer any questions you have about the reverse mortgage.
*Homeowner must still maintain the property, pay homeowners insurance, and property taxes to avoid foreclosure.