[United States, 05/25/2017] — Primary Residential Mortgage, Inc., a leading mortgage firm in the country, allows qualified seniors to use their home equity as cash through the company’s reverse mortgage program. This federally-insured loan provides multiple ways to obtain the funds and give borrowers the ability to spend the money as needed. A borrower can use the money from the reverse mortgage for a number of things, such as vacations, home repairs, medical expenses, everyday living expenses, and paying off debt.

Features and Requirements of the Reverse Mortgage Program
A borrower can acquire the money from a reverse mortgage through any one of these ways: a lump sum, a term payment, a tenure payment, or as a line of credit. This program has no income or credit requirements. Individuals who want to apply for the Primary Residential Mortgage, Inc.’s reverse mortgage program must meet the following requirements:
• The borrower must be at least 62 years old.
• The applicant must not be delinquent on any federal debt.
• The borrower must either own the property outright or only has a tiny mortgage balance left.
• The applicant must occupy the property as his or her primary residence.
• The borrower must be able to pay regular property expenses, such as property insurance and taxes.

Important Reminder for Borrowers
Before deciding to apply for a reverse mortgage, the mortgage company advises applicants to consult with an expert and take into account all possible risks and advantages. Borrowers will be required to join an independent counseling session to make sure that they sufficiently understand the reverse mortgage process and determine if the program best suits their needs.

About Primary Residential Mortgage, Inc.
The mortgage firm helps individuals realize their dream of homeownership through its various mortgage programs. Its team is great at pairing homeowners with the right mortgage product. It operates on these seven core values: Advocacy, Empowerment, Excellence, Happiness, Integrity, Stability, and Teamwork.
Go to https://www.primaryresidentialmortgage.com for more information.