How does a Reverse Mortgage work? Convert home equity into cash.

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How does a Reverse Mortgage work?

If you’re 62 years of age or older, M&T’s Reverse Mortgage can provide a lump sum payment, a regular monthly income, a line of credit, or any combination of these choices.

How does a Reverse Mortgage work?

A Reverse Mortgage allows you to convert some of the equity in your home into cash. The income is typically tax-free and will not affect your Social Security benefits.*

You will maintain full ownership and control of your home and no repayment is required until you decide to move, sell your home, or until your estate is settled.** And qualifying is easy. Qualifying is based on the value of your home and your age. Income and credit history are not considered.

* Consult your Social Security, Medicare or other financial advisor to determine how Reverse Mortgage payments may affect your particular situation. Also consult your tax advisor.

** You must also continue to occupy your home as your primary residence, keep it in good repair, with all taxes and insurance premiums up to date. Subject to the terms of your mortgage.

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» What is a Reverse Mortgage?

» Is a Reverse Mortgage right for me?

» How does a Reverse Mortgage work?

» How do I receive Reverse Mortgage payments?

» Reverse Mortgage FAQs

» Reverse Mortgage Myths

	©2008 Manufacturers and Traders Trust Company. Member FDIC. All Rights reserved. Users of this website agree to be bound by the provisions of the M&T Bank website Terms and Conditions and Privacy Policy. Reverse Mortgage programs not available in Massachusetts. Other geographic restrictions apply.
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