Reverse Mortgages
in Ohio

Free Mortgage Rate Quote

You have worked hard to reach your golden years, and you deserve to enjoy your retirement to its fullest.

One way to do that is to increase your income while still living in the home that you have invested in. You can do that by taking out a reverse mortgage.

What is an Ohio Reverse Mortgage?

A reverse mortgage is a financing product available to senior citizens. It makes it possible to borrow against your home equity. The cash from the loan can be disbursed to you as a lump sum or in installments. You also can opt for a line of credit.

Once you receive your funds, you have full control over how you will use them.

What Can You Do With
a Reverse Mortgage in
Ohio?

Since you get to decide how you will use your reverse mortgage, the possibilities are literally endless.

  • Repair or improve your home.
  • Use the money as a down payment on a second home.
  • Save the money in an emergency fund.
  • Pad your monthly budget.
  • Purchase a new vehicle.
  • Pay for education.
  • Pay medical bills.
  • Go on a vacation.
  • ...Or anything else.

Ohio Reverse Mortgage Benefits

Here are a few of the features and benefits which make reverse mortgages an attractive lending option for seniors:

You and you alone get to decide how you will use your reverse mortgage income. It is not up to your lender, and there are no restrictions.

You can choose a lump sum, line of credit, or monthly installment option for disbursements.

In most situations, reverse mortgage income is not taxable.

Even though you are drawing against the equity in your home, you do not need to move out.

You do not need to make payments on your reverse mortgage until a maturity event. Examples include the death of the last borrower on your home loan, or selling your home.

Do You Qualify for a Reverse Mortgage
in Ohio?

These eligibility criteria determine whether you can take out a reverse mortgage:

Reverse mortgages are only available to borrowers aged 62 and up. Only one borrower needs to meet this criterion.

You only can take out a reverse mortgage if you own a minimum of 50% equity in your home.

You can only borrow against your primary residence.

To qualify, your status must be current on all maintenance payments (such as homeowners insurance and property taxes).

Your credit score, income and tax records also are accounted for during the application process.

What Our Clients Are Saying

Bobbi Jo Cea
Bobbi Jo Cea
13:56 15 Aug 19
it's been a few years since I bought real Estate. I can tell though James and his team at Liberty Capital were amazing during the process. They were able to find the product to get my deal done, a rehab loan is a little different. Their team made my dream home a reality!read more
Bobbi Jo Cea
Bobbi Jo Cea
13:56 15 Aug 19
it's been a few years since I bought real Estate. I can tell though James and his team at Liberty Capital were amazing during the process. They were able to find the product to get my deal done, a rehab loan is a little different. Their team made my dream home a reality!read more
Jeff Musi
Jeff Musi
16:07 14 Aug 19
Used Liberty Capital for a refinance and was pleased with the ease of getting it done. Everything went smoothly and their automated system was very efficient for information transfer. James and his team did an outstanding job! If you are getting a loan or refinance, I strongly suggest that you contact this team.read more
Jared Kenyon
Jared Kenyon
15:21 14 Aug 19
James is the ultimate professional and was able to make a very stressful process very smooth. He has a unique ability to look at all scenarios in a unique way so that you get the best deal possible. I would definitely recommend James McBain to any friends or family who are looking to purchase or refinance a home.read more
Brian Ramey
Brian Ramey
00:36 21 Jun 19
This is the second time we have worked with James getting financing for a home purchase. He has been amazing to work with both times. He is extremely knowledgeable, responds quickly and just someone you know you can trust- which is extremely important when making such a large purchase. I would recommend James to anyone!read more
Marc s
Marc s
16:33 29 May 19
Ken, James and the whole team at liberty loans are the only people I would ever recommend for a home loan or refi! To put it simply, they just know how to get the deal closed!
Stefanie Villasante
Stefanie Villasante
14:30 29 May 19
Liberty Capitol was great to work with. Ken, James, and ESPECIALLY Laura all made the closing process so smooth and easy. If I needed anything they were an email, phone call, or text away. They kept costs low for me, and saved me money on my closing. If I ever buy another house, I wouldn't hesitate to use them again. Great team, nice people!read more
Lani Ciera
Lani Ciera
13:39 22 May 19
My husband and I just closed on our first home yesterday and we couldn't have done it without James and his amazing team at Liberty Capital Services! James actively worked with us throughout the entire process; helped us to improve our credit, didn't pressure us or make us fear for this huge purchase, and made the entire process enjoyable and stress free! He and his team are amazing and truly care about their clients. Thank you Liberty Capital!read more
Ian Mcmahan
Ian Mcmahan
11:17 22 May 19
If you are thinking of buying or refinancing your new home, well look no further! James from Liberty Capital made our first home buying process effortless and stress free. He and his team were absolutely amazing and we were lucky enough to have worked with them!read more
Alexandra Tran
Alexandra Tran
20:00 22 Apr 19
I had a great experience with Liberty Capital. They made the process extremely easy and I was able to close sooner than expected. They really made the process seamless and I recommend them to anyone looking to buy a home!read more
Robert Moore
Robert Moore
19:42 22 Apr 19
I strongly recommend Liberty Capital. They were straightforward and were extremely FAST and HELPFUL with the entire process. I highly recommend Liberty Capital they were consummate professionals during the mortgage process.read more
Next Reviews Write a review

Apply for a Reverse Mortgage in Ohio Now

It’s time to pad your retirement income and increase your financial well-being and peace of mind. To apply now for a reverse mortgage in Ohio, California or Florida, please call (614) 505-0620 to set up your consultation.

Free Mortgage Rate Quote