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Learn how older Americans can relocate, downsize, or upsize to a new primary residence, by investing as little as 25%-50%, AND have NO monthly mortgage principal and interest mortgage payments* over the life time of the loan. 

 

*must maintain property as primary residence and keep property taxes, insurance and HOA dues current

Use our free Life Expectancy Set Aside (LESA) calculator to educate yourself on the amount needed to set aside funds to pay property charges, including homeowners insurance, property tax, and HOA dues. A LESA sets aside a portion of your reverse mortgage line of credit for the purpose of paying these future charges, giving you peace of mind. (Enter annual amounts.)* Legal

Property Tax
Homeowners Ins.
Flood Insurance
Your Age

For A Big Life In Retirement, Consider A Tiny Home

November 15, 2018

Downsizing in retirement is not a new concept. However, the rise in popularity of tiny homes is adding a unique twist to the goal. In pursuit of simplicity and flexibility, and sometimes by necessity, a growing number of seniors are using small, often portable residences to be closer to family and enjoying the added freedom that they can provide.

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Homebuyer Concerns Regarding Rising Interest Rates

November 13, 2018

What’s a home buyer to do when interest rates rise? It’s a question many are considering as the market recovers from the long period of historically low rates following the financial crisis of 2008. With rates rising, buyers worry about getting a bad deal, and what that could mean for long-term financial stability.

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Reverse Mortgage

Stability and success are important at every stage in your life. For those exploring the benefits of reverse mortgages, we understand that your families and your security are paramount. We provide quality, dependable customer care you can trust.

Buying a home

Open Mortgage also offers HECM for Purchase (H4P), which lets seniors 62 and older combine two financial transactions — a down payment with a reverse mortgage loan — to purchase a new home.

Refinancing a home

Take advantage of a lower rate that could reduce your monthly payment or change the term of your loan. Our outstanding customer service and commitment to provide transparent communications means that Open Mortgage makes your priorities our mission.

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