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Choosing the right reverse mortgage disbursement option is an important way to ensure you get the most from your reverse mortgage. Weigh the reverse mortgage pros and cons to determine which disbursement option suits you best.

One of the reasons that many people are concerned about getting a reverse mortgage is that they feel they will be "locked in" with no opportunity to change any features of the loan, even if other circumstances in their life cause them to have different needs. If you obtain a reverse mortgage loan based on your current needs, you might have unexpected expenses in the future that cause you to need more money over a number of months. When this happens, you can change your option to get Term payments during the time that they are needed.

Flexibility is an important feature of a reverse mortgage that allows your loan to change when your needs do. If you do not need a lot of extra money right now, but want to have additional funds available for certain occasions in the future, a modified tenure reverse mortgage loan will provide you with the money you need, when you need it. For some people, a lump sum loan is the best option in order to reduce their monthly payments that they may otherwise not be able to meet.

There are many reasons that people seek reverse mortgage companies to give them a loan. Unexpected illness can lead to high medical bills. The upkeep on the home may be too much for them to afford. Whatever the reason, the money that you get from a reverse mortgage can be used to ensure you keep your home and have the money you need to take care of your additional obligations. If those needs change in the future, so can your options.

There are several reverse mortgage disbursement options so that you can choose the option that best suits your lifestyle. Once you choose an option, the terms of your loan never have to change. But, if something in your life changes and you decide you do want to change your disbursement option, most of the options (with the exception of the lump sum) can be changed with minimal effort. Take a look at your different disbursement options below.

I Want To...

Choose This Option...

Supplement my income.



The tenure option allows you to receive monthly payments for a fixed period of time.

Supplement my income to cover a temporary increase in my monthly expenses.



The term option allows you to receive monthly payments for a fixed period of time.

Access a substantial amount of funds for a large one-time expense.


Lump Sum

The lump sum option can be used to cover medical bills, complete home improvements, or anything else you need.

Have access to funds that are available whenever you need them.


Line of Credit

The flexibility of the line of credit option gives you easy access to funds if you ever experience and unforeseen expense.

Supplement my income and have access to extra funds in the future.


Modified Tenure

The modified tenure option allows you to receive extra money for monthly expenses and gives you access to additional funds as you need them.

Reduce my total monthly obligations


Lump Sum

The lump sum option is a useful tool that eliminates your monthly mortgage payment and allows you to consolidate other debts.

Find the Best Disbursement Option For You!

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