Investors Savings Bank has been serving the banking needs of New Jersey families since 1926. With over $8.5 billion in assets and a network of 65 branches in ten Garden State counties, the Bank delivers personalized and friendly service and products tailored to the needs of customers. Through its wholly-owned subsidiary, ISB Mortgage Co., LLC, a wide range of mortgage products, including Home Equity Conversion Mortgages (“Reverse Mortgage”) are available.

Reverse mortgages are a unique loan that enables senior homebuyers to convert part of the equity in their homes into tax-free income without having to sell the home, give up title or take on a new monthly mortgage payment. Reverse mortgages are available to individuals 62 or older who own their home. Funds obtained from the reverse mortgage are tax free*.

Borrowers can choose to receive the reverse mortgage funds as a lump sum, monthly income (up to life income) or a line of credit, or as a combination of monthly income and line of credit. No mortgage payments are due during the life of the loan. Borrowers can use the funds anyway they wish. The loan becomes repayable when the borrower sells the home or permanently moves out. In addition, the repayment amount can’t exceed the value of the home.

The Home Equity Conversion Mortgage (HECM) is insured by the Federal Housing Administration, an arm of the US Dept. of Housing and Urban Development (HUD).

* Consult your tax advisor.

Please call today 800-965-3006 to obtain a personalized quote and additional details or request additional information below.