If you're age 62 or older and own your home, a HECM reverse mortgage lets you tap into your home's equity - while continuing to live in and own your home.*
you can eliminate your monthly mortgage payment (if one exists) and access cash to support your lifestyle, all while staying safely in your home.
If you're 62 or older, own your home (or have significant equity), and want to access that equity without selling your home or taking on monthly mortgage payments, a HECM could be a strong option. Because you customize mortgage solutions, you'll want to evaluate how a HECM fits into your broader financial/retirement plan - including tax implications, estate goals, and how it impacts your cash flow and lifestyle.
A HECM is a reverse mortgage loan available to homeowners aged 62 or older that lets you convert part of your home equity into cash - without required monthly mortgage payments.*
You remain the owner of your home, you may receive funds as a lump-sum, monthly payments, a line of credit, or a combination. You must continue to live in the home, keep it as your principal residence, and meet your obligations (taxes, insurance, maintenance). Repayment becomes due when the home is sold, all borrowers permanently move out, or other maturity events occur.
Homeowners age 62 or older who want to:
HECMs are government-insured through the FHA, require mortgage insurance premiums, and have loan limits based on FHA rules. Other products (proprietary reverse mortgages) may allow higher loan amounts, fewer insurance requirements, and different age or property criteria.
The loan becomes due when the homeowner permanently moves out of the residence, sells the home, or passes away. The home is typically sold and the loan balance repaid. Importantly, most HECMs are non-recourse: you or your heirs won't owe more than the home's value at sale.
Contact us today to receive a tailored estimate of your eligibility and potential loan amount. Our team will guide you through each step - from initial eligibility check to closing - ensuring the program aligns with your unique situation (you've noted you personalize for each borrower).
*Must meet all loan obligations, including occupying the home as your principal residence, paying property taxes and homeowners insurance, maintaining the property, and complying with other terms.
This material describes an FHA-insured HECM reverse mortgage. Not all loans are available in all states. Terms are subject to change without notice. Borrowers must continue paying property taxes, homeowners insurance, and maintain the home. Failure to do so may lead to loan repayment. Interest and fees accrue over time and the loan balance grows. Loans are typically non-recourse: you won't owe more than the home's value when the loan becomes due.
Reverse mortgage options vary based on your age, home value, equity, and long-term goals. Get your FREE personalized analysis below - no pressure, no obligation.
