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 Wisconsin, don't hesitate to contact one of our specialists at any time.The Federal Housing Administration covers all home equity conversion mortgages (HECM) in the country, so no matter what state you live in, you will be able to locate an expert offering reverse mortgages. Before you connect with a mortgage licensed expert in Wisconsin, you should consider the reasons you may want to apply for a reverse mortgage.
Wisconsin's High Cost of LivingLike many other U.S. states, Wisconsin has a high cost of living. Making the monthly bills on a fixed income can be tough, especially with mortgage expenditures or medical debts. While you're living on a limited budget, the wealth you so wisely invested in your home's equity just sits there, doing nothing. You can access your home's equity through reverse mortgages. Wisconsin residents may qualify for either fixed or adjustable reverse mortgages, which allow them to put their equity to work. You pay no interest payments or loan payments for as long as you own and live in your home.* The loan only comes due when you move, sell the property, or pass away. You retain ownership of the home and must continue to pay property taxes, insurance fees, and home maintenance costs. When the loan comes due you (or your heirs) may sell the home to close the loan. However, if your heirs wish to keep the property, they can refinance the loan as a traditional mortgage.
Wisconsin, My Family Lives ThereYou may have considered relocating to Wisconsin if it's where your family lives. With a reverse mortgage for purchase, we may help you relocate to the Midwest state. Seniors who qualify for reverse mortgage for purchase can use the loan to purchase a home anywhere in the U.S. Similar to other reverse mortgages, a reverse mortgage for purchase doesn't come due as long as you continue to live in the home. However, keep in mind that HECM loans only apply to primary residences. You can't purchase a vacation or secondary home with a reverse mortgage.
Reverse Mortgage SpecialistsOne Reverse Mortgage works with numerous reverse mortgage licensed specialists in Wisconsin. Please fill out the form on this page to have a reverse mortgage specialist contact you.
*Homeowner must still maintain the property, pay homeowners insurance, and property taxes to avoid foreclosure.