You Could Benefit From A Reverse Mortgage!
Unlock your home's surplus equity with a HECM
A HECM reverse mortgage is the retirement solution for people looking to live in their home while freeing up funds by accessing the money in their home.
HECM Quick Facts
How a HECM can help you
Put an end to monthly mortgage payments
Takes the place of your current mortgage and only needs to be repaid when you leave the house*. The amount of your old monthly payment becomes usable cash.
Your loan proceeds are
income tax-free*
Your funds can be used however you'd like such as achieving goals, traveling and simply enjoying life.
Increase your financial flexibility
Receive a lump sum, receive monthly cash or obtain a line of credit with no monthly payments.*
Stay in and enjoy your home
Maintain your standard of living by easily tapping your accumulated equity to live comfortably.
Frequently asked questions
The reverse mortgage borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance, and any homeowners association fees. The borrower must maintain the home. If the borrower does not meet these loan obligations, then the loan will need to be repaid.
How much depends on multiple factors, including the age of the youngest borrower or non-borrowing spouse, your home's value, the amount of equity, FHA lending limits, the current interest rate, and the reverse mortgage product and payment option you choose. A Professional Mortgage Reverse Specialist can give you a free quote that's tailored to your specific situation.
To be eligible for a HECM reverse mortgage, you must meet the following criteria:
- You must be age 62 or older.
In addition to confirming qualifications, our Reverse Mortgage Specialists can help you find out if a HECM is right for your personal situation and understand the loan details.
A HECM reverse mortgage is a loan that enables homeowners and homebuyers age 62* and older, to convert some of their home equity into cash, installment payments, or a line of credit. Some loans also let homeowners finance a new home purchase. With a reverse mortgage, you make no monthly mortgage payments. You continue to live in and own your home as long as you uphold the terms of the loan.
- The amount of loan proceeds is determined by the age of the borrower and appraised value of the home.
Ready to Get Started?
Start Here*Borrowers must comply with all loan obligations including living in the property as their principal residence and paying property taxes, hazard insurance etc. Home must be maintained at all times. If borrower doesn't meet the loan obligations the loan will need to be repaid.
*Consult a tax professional as we do not provide tax advice.
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