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Southern Heritage Bank is a division of FIRST CITIZENS NATIONAL BANK

Reverse Mortgages

A reverse mortgage can be an important tool to help senior homeowners maintain their personal and financial independence.

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Designed for qualified homeowners at least 62 years of age, a reverse mortgage can let you draw the equity out of your home in regular monthly payments to use however you wish.
  • Tax-free funds as long as you live in your home (consult your tax advisor)
  • No loan repayment as long as you live in your home
  • No income, medical or credit requirements
  • Retain ownership of your home as long as you meet the mortgage requirements
  • Choose a cash flow plan to meet your needs
  • No restrictions on how you use the cash
  • Loan is secured by a mortgage on your home
  • Higher origination costs than other loan products
  • Must be repaid immediately under certain conditions, such as if you sell the property or fail to maintain it or pay real estate taxes
  • May impact your eligibility for public benefits (consult your tax advisor)
  • $5 monthly fee if average balance is below $7,500

What our
customers say

I like that First Citizens is locally owned. It has that small-town atmosphere about it.

– First Citizens National Bank customer