Reverse Mortgages

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Homeowners can move forward by going in reverse

If you're 62 or older and own a home, you and your heirs could benefit from a Sacramento Credit Union (SCU) Reverse Mortgage. You'll receive payments for the value of your home with no repayment necessary for as long as you live there. It's a good option for people who want to cover monthly expenses as they transition out of their home.

Utilize your home's equity as cash or a line of credit:

With SCU's Reverse Mortgage, we'll make payments to you based on a percentage of the value in your home. Meanwhile, you keep title to your home, and you're charged interest only on the funds you receive. In a Reverse Mortgage, you're still responsible for paying property taxes, insurance and maintenance costs.

  • Receive tax-free funds as lump-sum cash, line of credit, monthly cash advances or a combination of options
  • Fixed and variable interest rates available
  • Financial assessments occur monthly to ensure you have enough money to pay ongoing costs
  • Lender sells the home when you move or pass away
  • Any equity left after lender fees goes to you or your heirs
  • If you receive more payments than your home is worth, you'll never owe more than the value of the home
  • Insured by the federal government to protect you and your heirs