Reverse Mortgages | Helberth DeOliveira
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Helberth DeOliveira | NMLS# 303023
Loan Officer

Reverse Mortgages

NJ Lenders Corp.

Silver Bay Lending is a leading Reverse Mortgage lender. All of our loan officers are trained on the

Silver Bay Lending is a leading Reverse Mortgage lender. All of our loan officers are trained on the latest trends in this very important mortgage loan category.  When obtaining a reverse mortgage, it is critical to choose an established Mortgage Company that has the knowledge and experience to handle your important transaction.

A reverse Mortgage is the opposite, or "reverse" of a conventional mortgage. There are no monthly payments.  Instead, a reverse mortgage is a loan that results in a payment to you each month. The loan balance is only repaid when the home is sold or you no longer occupy as a primary residence. With a Reverse Mortgage you also retain ownership and title to the home.

Reverse Mortgage are becoming more popular for a many reasons 

• A growing population of seniors - Many people over the age of 62 are having difficulty keeping up with bills. A Reverse Mortgage allows them to stay in the home while collecting a payment each month to cover normal living expenses.

• Increased Loan Limits - As the demand for Reverse Mortgage loan programs have grown, more and more lenders are offering the product option.   The loans are typically Government insured which allows loan limits of as high as $625,500

• The Ability To Turn Your Equity Into Income - Why not let your largest investment start working for you later in life.  Whether traveling, paying medical expenses, improving your home, or adding a little extra money to your monthly budget - you now have an opportunity to put this equity to good use.

Reverse Mortgage Features

  • No monthly payment due. Instead, you receive a payment each month
  • Income or Credit is not considered when qualifying (Subject to change March/2015)
  • Title and ownership of your home are retained
  • All Proceeds from a Reverse mortgage are not subject to personal income taxation 

Reverse Mortgage Eligibility

  • You must be at least 62 years of age
  • You must occupy the home as a primary residence
  • The home must be a single-family or a two-to-four unit dwelling
  • Most townhomes, condominiums, planned unit developments (PUDs), detached homes, and some manufactured homes are eligible

Get started now

To learn more about the reverse mortgage process and your eligibility, call us today!
You may also submit your inquiry online.