MISSION STATEMENT

Ocean State Reverse Financing, Inc. is a company that educates senior homeowners about reverse mortgages and originates reverse mortgages for those who qualify. We promise to work diligently to help seniors stay in their homes while improving their quality of life by devoting 100% of our time to helping them thoroughly understand how reverse mortgages work. We will strive every day to deliver exemplary personal service to our borrowers, their families and their financial advisors. We pledge to be patient, thorough, understanding and caring while recognizing our responsibilities to our borrowers, our employees and our community.

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Find the Reverse Mortgage Option to fit your needs:

Reverse Mortgages

A reverse mortgage is a home loan that lets homeowners convert a portion of the equity in their home into cash. The equity built up over years of mortgage payments can be paid to you. Unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence.

Am I Eligible?

To be eligible for a HUD reverse mortgage, HUD's Federal Housing Administration (FHA) requires that the borrower is a homeowner, 62 years of age or older; own your home outright, or have a low mortgage balance that can be paid off at the closing with proceeds from the reverse loan; and must live in the home.

How Much Do I Get?

The amount you can borrow depends on your age, the current interest rate, and the appraised value of your home or FHA's mortgage limits for your area, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow.