Are You Living The GoodLife in Retirement?

Many seniors have a dream: They want to live in their homes forever. Over 1 million senior homeowners (age 62 plus) have used a reverse mortgage to convert some of the equity in their home into tax-free cash in the form of loan proceeds (which are typically not considered income for tax purposes)* to supplement their retirement.

With a reverse mortgage you can retire in comfort without worrying about making regularly scheduled monthly mortgage payments. While you will still need to maintain your property and make payments for taxes, insurance and any other obligations associated with your home, a reverse mortgage from GoodLife Home Loans can help you retire comfortably, stay in your own home, and increase your monthly cash flow. Nobody wants to outlive their money and a reverse mortgage can help make things easier for senior homeowners who wish to retire with The GoodLife in Retirement.

*Consult a financial advisor and appropriate government agencies for any effect on taxes or benefits.

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Benefits

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Immediate Access to Cash

A reverse mortgage can provide seniors with tax-free cash in the form of loan proceeds* to make it easier to live The GoodLife in Retirement. You choose the best use of your funds to improve your lifestyle.

*Consult a financial advisor and appropriate government agencies for any effect on taxes or benefits.

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No Monthly Mortgage Payments

Your reverse mortgage is repaid at the end of the loan, allowing you to reallocate existing mortgage payments to meet any other pressing needs. Simply put, you will have more money each month to live The GoodLife.

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Delay Social Security Benefits

A reverse mortgage may allow you to delay collecting your Social Security benefits. Every year you delay collecting Social Security, the bigger your benefit. Sometimes, good things come to those who wait.

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You Still Own Your Home

Just like all loans, if you keep up with property taxes, homeowner’s insurance, and general maintenance, plus continue to occupy the property as your primary residence, you can remain in your home and live The GoodLife.

Getting a Reverse Mortgage: 4 Simple Steps

STEP 1: Education

Our Loan Professionals explain all the important details of a reverse mortgage. We will help you answer two questions: Are you eligible? And, more importantly, is this suitable and appropriate for you? We need to learn more about you, your goals and your retirement plan to see if we can help you live The GoodLife in Retirement.

STEP 2: Counseling

Complete a counseling session with an independent HUD-approved counseling agency to ensure a reverse mortgage loan is a suitable option for you. Your counselor can also answer any additional questions you have to make sure a reverse mortgage is appropriate based on your personal retirement goals.

STEP 3: Application

We fill out an application with you and process your loan. We check your credit report and verify your income and assets, plus we arrange for an appraiser to inspect your home to determine property value.

STEP 4: Funding

After we approve your loan, we’ll draw up final loan documents. After any required waiting period, we fund your loan, make the appropriate payoffs and then disburse your cash proceeds so you can start living The GoodLife in Retirement.

Reverse Mortgage Proceeds Vary by Youngest Borrower Age and Property Value

The educational tables below illustrate how much you might be eligible for with a GoodLife Reverse Mortgage. The loan proceeds can be used to pay off existing debts, for home improvements or for almost any other reason to help you live The GoodLife in Retirement. In order to get a customized estimate for your particular situation please use our simple Reverse Mortgage Calculator with your age and estimated property value.

Reverse Mortgage Proceeds Based on Age and Property Value

Appraised Property Value
Age $100,000 $200,000 $400,000 $600,000 $765,600
62 $52,400 $104,800 $209,600 $314,400 $401,100
65 $54,200 $108,400 $216,800 $325,200 $414,900
70 $57,600 $115,200 $230,400 $345,600 $440,900
75 $60,900 $121,800 $243,600 $365,400 $466,200
80 $64,200 $128,400 $256,800 $385,200 $491,500
85 $68,500 $137,000 $274,000 $411,000 $524,400
90 $73,000 $146,000 $292,000 $438,000 $558,800

Equity Power Proceeds Based on Age and Property Value (currently available in CA, FL, NJ, TX)

Appraised Property Value
Age $1,000,000 $2,000,000 $3,000,000 $4,000,000
60 $380,000 $760,000 $1,140,000 $1,520,000
65 $430,000 $860,000 $1,290,000 $1,720,000
70 $465,000 $930,000 $1,395,000 $1,860,000
75 $492,000 $984,000 $1,476,000 $1,968,000
80 $534,000 $1,068,000 $1,602,000 $2,136,000
85 $579,000 $1,158,000 $1,737,000 $2,316,000
90 $612,500 $1,225,000 $1,837,500 $2,450,000

Find out how much you might qualify to receive from a Reverse Mortgage

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Secure Your Future

GoodLife helps seniors secure reverse mortgage loans to ensure they live The GoodLife during their long-awaited retirement. Worried you don’t have enough saved up for your retirement years? GoodLife provides some of the lowest rates in the reverse mortgage industry, helping you supplement your hard-earned retirement savings and increase the amount of money you have each month. Learn how GoodLife can help you leverage the equity in your home.

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Reverse Mortgages: Timing is Everything

At GoodLife Home Loans, our passion is to help you determine the best way to live in your home forever. Reverse mortgages need to be the right loan, for the right person, for the right property, at the right time, and for the right reason. We’re here to help you learn if a reverse mortgage could be right for you. Reverse mortgage loans are designed to help seniors, age 62 and older,* use the equity in their home to secure a better retirement. With a reverse mortgage loan, you’re able to use proceeds to cover a variety of things: to payoff credit cards, to get rid of your monthly mortgage payment, to take care of medical expenses, and to supplement retirement income. The proceeds from your reverse mortgage may also be used to delay tapping into Social Security, which can increase your future social security distributions.

* Ask us about the new exception that allows a spouse or co-owner to be under age 62, as long as one borrower is at least age 62.

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Ready to begin your reverse mortgage application?

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Want to learn more about how a GoodLife reverse mortgage could improve your retirement? Download our Comprehensive Guide to Reverse Mortgages today! This guide shows you the various ways to live The GoodLife in Retirement.

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