SB1 Federal Credit Union’s Reverse Mortgage is an FHA-insured Mortgage Program which can give the seniors a great opportunity to access tax-free cash against their home equity. The seniors can still maintain the ownership and control of their property.
The money you borrowed can be used for credit card debts, new residence purchases, home repairs, medical expenses or Planning for long-term care needs. Note that you should be at least 62 years old to apply for the mortgage.
Other Home Mortgage Loan Options:
- Fixed Rate Mortgages
- Adjustable Rate Mortgages
- New Construction Loans
- Balloon Loans
Founded in 1977, SB1 Federal Credit Union is a member-owned financial institution with more than $450 million in assets and over 33,000 members today.
1500 Spring Garden Street, Suite 500, Philadelphia, PA 19130-4490