A Reverse Mortgage is a way to convert a portion of your home's equity into tax-free money returned to you. No regular mortgage payments are required. If you're at least 62 years old, live in the home, and have equity, you may qualify.1 We have the experience to guide you through the Reverse Mortgage process!
You'll still own & live in your home!
- Pay off your existing mortgage
- Receive monthly payments
- Pay off debt or medical expenses
- Improve your finances or lifestyle
For a limited time, earn a $350 closing cost rebate when you close your loan with us!2
1If you qualify and your loan is approved, a Reverse Mortgage must pay off your existing mortgage(s). With a Reverse Mortgage, no monthly mortgage payment is required. Borrowers are responsible for paying property taxes and homeowner’s insurance (which may be substantial). We do not establish an escrow account for disbursements of these payments. Borrowers must also occupy home as primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan must be paid off when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, or does not comply with the loan terms. A Reverse Mortgage increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). 2The closing cost credit is available to all who apply for a Reverse Mortgage loan from 1.1.20 to 2.29.20 and funded by 3.31.20 with SCE FCU. Program subject to change without notice. Rebate payment is made by HomeSmart Evergreen Realty and is credited to your benefit at the close of transaction. Rebate for home purchase only is 20%. Rebate for home sale and purchase is 25% for each transaction. In order to receive the 25% rebates, the home sale and purchase transactions must take place within six months of each other. HomeSmart Evergreen Realty is not affiliated with CMF. 20% escrow services discount guaranty paid by Escrow Options at the close of transaction. Escrow Options is not affiliated with CMF. All loans are subject to credit approval. SCE FCU NMLS# 456631, CMF NMLS# 266418. Community Mortgage Funding (CMF) is our credit union owned mortgage company. CMF is licensed by the following states: Arizona Mortgage Banker License #BK-0924262 & #BKBR-0118639; Department of Business Oversight, California Finance License #6039200; Nevada Exempt Company Registration #4721. 3201 W Temple Ave #120, Pomona CA 91768, 877.915.3030. Equal Housing Lender.