The size of mortgage reverse senior that a senior homeowner can receive depends on the type of mortgage reverse senior, the borrower's age and current interest rates, and the home's property value. The older the applicant is, the larger the monthly payments or line of credit.. In addition, there is no restriction on the age of borrowers. mortgage reverse senior is different from a home equity loan or line of credit, which many banks and thrifts offer. With a home equity loan or line of credit, an applicant must meet certain income and credit requirements, begin monthly repayments immediately, and the home can have an existing first mortgage on it.

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