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Reverse Mortgage

Enjoy Your Retirment on Your Terms

Reverse mortgages are a unique type of loan that has quickly become popular with Americans 62 or older*.  \

 

Reverse mortgages allow homeowners to convert part of their home equity (wealth) inot cash without selling their home. This could be an effective way for seniors to supplement expenses or prepare for unexpected costs (such as medical bills).

 

Reverse mortgages aren't required to be paid back while the recipient lives in the home, and the recipient keeps the title to the home**. This means they're still responsible for paying property taxes, homeowners insurance, HOA fees, and maintaining the home.

 

Eligibility Requirements:

  • Be 62 years or older*
  • Must be living in home as primary residence; vaction homes and investment properties do not qualify
  • Complete a HUD-approved counseling session
  • Must keep property taxes, homeowners insurance, and any applicable HOA fees current.
  • Financial Assessment Required

 

*In Texas both borrower must be 62 or older

**Must comply with terms of mortgage

 

APPLY NOW! 866.441.1862 or customerservice@ruhlmortgage.com

 

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                             Divison of Banking Locations                                                                                  Phone Numbers

          Springfield Office                               Chicago Office                                          General Inquires                              TTY

        Division of Banking                         Divison of Banking                                       1-888-473-4858                   1-866-325-4949 

 320 West Washington Street       100 West Randolph, 9th Floor                                                  Divison of Banking

       Springfield, IL 62786                        Chicago, IL 6060                                                                 1-844-768-1713

NMLS# 935629

1701 52nd Avenue, Moline, IL  61265

866-441-1862    customerservice@ruhlmortgage.com

 

For more information regarding licensing, go to www.nmlsconsumeraccess.org

                             Divison of Banking Locations                                                                                  Phone Numbers

          Springfield Office                               Chicago Office                                          General Inquires                              TTY

        Division of Banking                         Divison of Banking                                       1-888-473-4858                   1-866-325-4949 

 320 West Washington Street       100 West Randolph, 9th Floor                                                  Divison of Banking

       Springfield, IL 62786                        Chicago, IL 6060                                                                 1-844-768-1713