The length of the loan is determined upon what disbursement option you choose. Your Reverse Mortgage funds can be disbursed to you in a few ways. You may receive:
- Full or partial lump sum
- Line of credit
- Monthly Payments (tenure or modified tenure plan)
- Combination of any of these.
The choice is ultimately yours, but your Reverse Mortgage Professional can help you decide on the disbursement method that is the best option for your unique situation. Remember, you have the option to change your disbursement method at any time.