Reverse Mortgages

Helping seniors access funds and keep their home

Being a community bank means lending a hand to neighbors who’ve been here the longest. A reverse mortgage from FMS Bank can help seniors access funds for living expenses, while remaining in their home.

Reverse Mortgages

It’s a simple idea, really: a reverse mortgage lets homeowners who are 62 and over convert their home equity into cash. Better still, seniors can remain in their home for as long as they live.

  • Designed to help seniors on fixed incomes
  • Access cash for living and health care expenses
  • Requires equity, but it’s not required to own the home outright
  • No monthly payments – no payment due during the owner’s lifetime
  • You continue to own your home
  • You can take a lump sum, monthly payments or even a line of credit
  • Interest only accrues on money used – not the total amount of the loan
  • Repay the mortgage interest at any time without a pre-payment penalty
  • The estate only repays the actual money used, plus interest