Reverse Mortgage
Transform your home’s equity into retirement income
Unlock the Value in Your Home
A Reverse Mortgage gives homeowners age 62 and older a way to turn home equity into usable cash. You don’t have to sell your home or make monthly mortgage payments — instead, you can receive payments from the bank. You choose how to get your funds: all at once, in monthly payments, or through a line of credit that grows over time. It’s a practical way to access the value in your home and enjoy more financial flexibility during retirement.
Many people use a Reverse Mortgage to cover everyday expenses, make home updates, or pay off existing loans. Others use it to create a safety net for the future. You’ll still own your home and can stay in it as long as you keep up with property taxes, insurance, and basic maintenance. With no required monthly mortgage payments, this loan can give you more control over your finances and help you enjoy your retirement on your own terms.
Boost Cash Flow
A reverse mortgage lets you tap into your home’s equity for extra income, helping you cover expenses or enjoy more freedom in your retirement budget.
Keep Your Home
You remain the owner and can continue living in your home as long as you stay current on taxes, insurance, and basic upkeep.
No Monthly Payments
There are no required monthly mortgage payments, giving you more control and flexibility over your finances in retirement.
Ready to Explore Your Options?
Our mortgage experts are here to help you understand if a this product is right for you. Let’s discuss how we can help you elevate your retirement.
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A Smarter Way to Use Your Home’s Value
A reverse mortgage can give you new options for your retirement. By turning a portion of your home’s equity into accessible funds, you can plan for the future with more flexibility. Whether you want to supplement income, make home improvements, or prepare for unexpected expenses, this tool can help you use your home’s value in ways that fit your life.
This type of loan is designed to adapt as your needs change. Your line of credit may grow over time, giving you even more access to your home’s equity down the road. With clear guidance, fair terms, and flexible options, a reverse mortgage can provide stability, choice, and confidence, giving you more control over your financial future.
Flexibility and Peace of Mind
Beyond the financial benefits, a reverse mortgage can offer peace of mind. Knowing you have a reliable source of funds available can help you handle unexpected costs or plan for long-term care without disrupting your day-to-day life. It’s a way to create a safety net that works alongside your other retirement resources.
Additionally, a reverse mortgage can help you make strategic decisions about your home and finances. Whether you’re considering home updates, paying off other loans, or simply building a reserve for the future, this loan allows you to use your home’s value in ways that support your goals, today and down the line.
Frequently Asked Questions
What is the Reverse Mortgage Process at UCCU?
The entire process typically takes 45 to 60 days.
- Initial consultation and education
- HUD-approved counseling session
- Application and financial assessment
- Home appraisal
- Loan processing and underwriting
- Closing and fund disbursement
We’re here to guide you every step of the way.
Will the bank own my home if I get a Reverse Mortgage?
No, you retain ownership of your home. It’s a loan against your home equity, not a transfer of who owns the home.
Will my heirs lose their inheritance?
Your heirs have options when you pass away: they can pay off the Reverse Mortgage and keep the home, sell the home, or turn it over to the lender. The amount owed won’t be more than the loan balance or 95% of the home’s value, whichever is less.
Can I lose my home with a Reverse Mortgage?
You won’t lose your home as long as you live in the home, maintain it, and pay property taxes and insurance. Reverse Mortgages have built-in safeguards to protect homeowners.
Do I need to own my home outright to qualify?
No. You can still qualify for a Reverse Mortgage even if you you still have a payment on your home. Your current balance will be rolled into your Reverse Mortgage.
Are Reverse Mortgages expensive?
Costs are typically rolled into the loan balance, so you don’t pay them upfront. Costs include origination fees, insurance, and interest.
Related Services
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