All loans subject to credit approval. Broadway Bank's lending area is limited to Bexar and contiguous counties in South Texas, as well as counties where Broadway Bank banking centers are located.

Let the Golden Years Pay Off.

If you are 62 or older, a reverse mortgage can help supplement your income.

No Income Requirements
No Monthly Mortgage Payment Requirement
Continue to Own Your Home
Income May Be Tax Free*

A Reverse Mortgage is a way to receive income from the value of your home. The lender places a loan against your home and pays you. The cash you get can be paid to you in several ways:

  • A lump sum cash payment
  • Regular monthly payments
  • A line of credit

You don’t pay any money back until you sell your home or are no longer living in your home. You or your heirs can never owe more than the actual sales price when you sell.

The amount you receive is based on your age, the value of your home, the location of your home and the current interest rate.

Reverse Mortgages are aptly named if you compare them against normal home financing. Instead of making monthly payments and reducing the debt, you are drawing income and increasing the debt on your home. In short, a Reverse Mortgage is a “rising debt/falling equity” transaction. But that is its purpose... to allow seniors who have built equity in their homes but now have a need for additional income to use this equity without having to make any repayment.

Broadway Bank has partnered with SWBC Mortgage to offer this option to our customers. Please call our Mortgage Department at (210) 283-6690 to speak to a loan officer who can help you decide if a Reverse Mortgage is the right option for you.

* Not tax advice–consult your Tax Professional.