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2. Mortgages for seniors: Getting a home loan in retirement - AOL

   www.aol.com/finance/mortgages-seniors-getting...

   Here are the minimum credit scores needed based on loan type: Conventional loans: 620. FHA loans: 580 with 3.5% down payment, 500 with 10% down payment. VA loans: No minimum requirement, but ...

3. Mortgages for seniors: Getting a home loan in retirement - AOL

   www.aol.com/finance/mortgages-seniors-getting...

   Minimum credit score. Conventional loans. 620. FHA loans. 580 with 3.5% down payment, 500 with 10% down payment. VA loans. No minimum requirement, but generally 620. USDA loans. No minimum ...

4. Reverse mortgage - Wikipedia

   en.wikipedia.org/wiki/Reverse_mortgage

   The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments. Borrowers are still responsible for property taxes or homeowner's insurance. Reverse mortgages allow older people to immediately access the equity they have built up in their homes, and defer payment of the loan until they die, sell, or ...

5. Reverse mortgage: What it is and how it works - AOL

   www.aol.com/finance/reverse-mortgage-works...

   A reverse mortgage is a type of loan that allows homeowners ages 62 and older to borrow against their home’s equity for tax-free payments. The reverse mortgage lender makes these payments to the ...

6. Section 504 loans and grants - Wikipedia

   en.wikipedia.org/wiki/Section_504_loans_and_grants

   Loans are limited to $20,000 and have a 20-year term at a 1% interest rate. Owners of age 62 or more may qualify for grants of up to $7,500 to pay for needed repairs that remove a health or safety hazard. To qualify for the grants, the elderly must be unable to obtain affordable credit elsewhere.

7. Second mortgage - Wikipedia

   en.wikipedia.org/wiki/Second_mortgage

   With regard to home equity loans, lenders advance the full amount at the time of loan origination. Consequently, homeowners are required to make principle-and-interest loan repayments for the entire amount on a monthly schedule. [9] The fixed interest rate charged on such loans is set at the time of loan origination which ensures constant ...