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Waterstone Mortgage

in Reverse Mortgages

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Waterstone Mortgage

Unaffiliated

in Reverse Mortgages

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Overview

Where does Waterstone Mortgage do business?

Waterstone Mortgage is based in Pewaukee, WI. The company was founded in 2000 and offers reverse mortages in 42 states (and Washington, DC).

What types of reverse mortgages does Waterstone Mortgage offer?

Waterstone Mortgage allows borrowers to apply for the following types of reverse mortgage.

Lump sum. The borrower can access the entire amount immediately. However, you will need to pay interest on the entire amount regardless of whether you spend it.

A line of credit. This is a more flexible option that allows borrowers to only borrow (and pay interest) on the amount they withdraw from their line of credit. In the case of reverse mortgages, the amount of cash available in your line of credit increases as time goes by.

Monthly disbursement. With this option, you get a monthly allowance. This is a good option if you need an additional source of income to cover your living expenses. It can be used in combination with a line of credit for additional flexibility.

What fees does Waterstone Mortgage charge for a reverse mortgage?

Waterstone Mortgage may charge a loan origination fee.

 

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Availability

Available in 42 States and Washington, DC
  • Alabama
  • Arizona
  • California
  • Colorado
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Age
62

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