A line of credit is a principal limit available to you to use as you please. You decide when you use it, and how much you use so long as the balance remains below the principal limit. This allows for maximum flexibility to draw from the funds at your own leisure or pace.
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A line of credit is extremely flexible. You may draw a large sum up front, then less and less over time or save the funds for emergencies..
The unused portion of your credit can grow at the same rate as your interest payment meaning if the funds go untouched, the credit amount will increase over time.
You will only pay interest on the funds that are actually being used. This may make your financial situation easier should you choose to move or after you have passed on.
Keep your home without paying your mortgage.
"Mark brings a professionalism that is second to none. Besides the fact that he is extremely sympathetic and does what he says he's going to do, his strategic thinking and working tirelessly toward my own financial goals helps him stand apart. I'll never work with another loan officer again."
Spencer A.
"Mark Schow was very professional and very kind in helping me refinance my home. He has saved us hundreds of dollars each month."
Dustin E.
"I was new to lending world — only hearing things from what family members and friends had said about their loan officer. After meeting Mark, all of my worries subsided and he helped me throughout the entire process. I would recommend him to anyone looking for a great loan experience from beginning to end."
Gabriel G.
According to a survey conducted by the AARP, 93% of people who did a reverse mortgage were satisfied with their loan and reported that their needs were met.
Start My Reverse MortgageWe know that feeling confident with your lender is a top priority. Mark is committed to helping you live your best retirement. With over 12 years of reverse mortgage lending under his belt, he knows the ins and outs to guide you through the entire process of securing your reverse mortgage.
You will have a partner every step of the way. With a commitment to assist you in finding relief from the financial stress you're experiencing, Mark is sure he can help you stop enduring your retirement and start enjoying it.
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Mark Schow built a detailed guide on reverse mortgages, providing you with the knowledge to make the decision that's right for you.
