Call Us
717-431-9299
Providing Reliable Reverse Mortgage Solutions Throughout Pennsylvania & Delaware
Your go-to reverse mortgage company in Lancaster and beyond!
Are you 62 years or older and in need of a reverse mortgage company in Lancaster, PA? Look no further than us at Fairway Independent Mortgage for assistance. With our expertise on the subject and years of both individual and collective experience, we're ready to guide you through the entire process, so you can make the most out of your home equity.
Your Go-To Reverse Mortgage Lender
You’ve worked hard your whole life, and it’s finally time to enjoy the fruits of your labor. We're here to ensure that your retirement years are as pleasant and stress-free as possible. By choosing a
reverse mortgage with us at the helm, you can unlock the equity in your home to supplement your income, cover healthcare expenses, or fulfill your travel dreams without having to make monthly payments on your mortgage.
Customized Solutions
Every homeowner's situation is different, which is why we emphasize the development of customized solutions that cater specifically to each client’s needs and objectives. Our approach begins with a thorough understanding of your financial landscape, preferences, and long-term goals.
We offer clear, straightforward advice every step of the way, helping our clients secure their financial future while staying in the comfort of their own homes.
We’ll Help You Make an Informed Decision
Navigating the world of reverse mortgages can be overwhelming, especially for those who are unfamiliar with the complexities of the loan. However, we’re your premium reverse mortgage lender and are here to wade through things so you can start relaxing.
Our specialists are well-versed in all aspects of reverse mortgages, from eligibility requirements to payment options and everything in between. Let us take the confusion out of reverse mortgages and help you achieve financial stability and security in your retirement years.
Qualifying for a Reverse Mortgage
When considering a reverse mortgage as a home loan, understanding the qualifications required is a critical first step. Set forth by the U.S Department of Housing and Urban Development (HUD), the following are some of the requirements for eligibility:
- Aged 62 and up
- Own your home, and it’s your primary residence
- Financially capable of paying ongoing property charges, including property taxes, insurance, and maintenance fees
Benefits of Reverse Mortgages
There are numerous advantages of going with a reverse mortgage. Most notably, you get flexibility in how the funds can be received, whether as a lump sum, monthly payments, or a line of credit, allowing homeowners to tailor the financial support to their specific needs and goals.
Lets You Access the Equity in Your Home
You’re empowered to tap into the equity that you've built in your home over the years, allowing you to convert part of the equity into cash without having to sell your home or take on additional monthly mortgage payments.
You Can Stay in Your Home
Unlike traditional home equity loans, a reverse mortgage doesn’t require you to move out or sell your property. This means you can continue living in the comfort and familiarity of your own home while still accessing the equity you’ve built over the years.
The Funds Are Not Taxed
The IRS doesn’t consider the money obtained from a reverse mortgage as income but rather as loan advances. This means that whether you choose to receive your funds as a lump sum, in fixed monthly payments, or through a line of credit, the amount you receive is not subject to income tax.
Reverse Mortgages Are Complicated - Let Us Help You!
When you partner with us at Fairway Independent Mortgage, you’ll gain a trusted advisor dedicated to your financial success and peace of mind in retirement.
Contact us today to learn how we, as your reverse mortgage company in Lancaster, can assist you in turning your home equity into the financial freedom you deserve.
Can I Purchase a Home With a Reverse Mortgage? Yes!
We have a Reverse Mortgage Specialist on staff who can speak with you about your options:
Mark Knodel
NMLS: 121337
* Although there are no monthly payments, interest accrues on the portion of the loan disbursed. The borrower will continue to be responsible for paying property taxes and homeowner’s insurance on time, and maintaining the home in good condition as their primary residence. Please consult your Fairway Loan Officer for details.
Other loan programs:
Branch NMLS: 2289
Licensed by the State of PA
Equal Housing Lender
Not everyone will qualify to buy a home. Mortgage interest rates, loan programs, credit standards and guidelines change frequently. Call us for more information and to discuss your plans in more detail: 717-431-9299.