If you're a homeowner (age 55+*) with an existing low-rate first mortgage and significant equity, the Optional Payment Second lets you extract cash while keeping your current mortgage payment intact and adding no required monthly payment on the new loan.
The Optional Payment Second is a second-lien reverse mortgage option that allows you to access a portion of your home's equity as a lump sum, while preserving your original mortgage terms. You keep owning and living in your home as your primary residence, remain responsible for your first mortgage, property taxes, insurance and maintenance, but you do not take on a new monthly payment obligation for the second lien.
As with all our custom mortgage solutions, you'll benefit from a dedicated team that understands flexible reverse-lien financing. We'll walk you through eligibility, help you compare scenarios, assist with documentation, and monitor your loan to ensure it remains aligned with your goals. Think of us as your long-term partner - not just your lender.
If you own your home, have considerable equity, and want to access cash - yet you'd rather avoid increasing your monthly payment obligations and keep your current mortgage intact - then the Optional Payment Second could be a strategic fit. Because you customize each borrower's process, we'll evaluate how it aligns with your broader financial picture: retirement cash flow, investment strategy, legacy goals, and estate planning.
It's a proprietary (non-FHA) reverse mortgage second lien product that lets homeowners access equity without adding a new monthly payment.
You take out a second lien behind your existing first mortgage. You get a lump sum payout based on your home's equity, you continue living in the home as your primary residence, stay current with your first mortgage and property obligations, and you do not make required monthly payments on the second. The loan becomes due and payable when the home is sold, you permanently move out, or other maturity event occurs.
Homeowners typically age 55 or older (age minimum may vary by state) who have a first mortgage they wish to keep, who own significant home equity, and who want to access cash without adding another payment burden.
Unlike a HELOC, this product:
When you permanently move out, sell the home, or otherwise leave occupancy, the loan balance (principal + accrued interest/fees) is repaid from the home sale or other assets. As with most reverse-lien products, the loan is non-recourse - meaning you or your heirs won't owe more than the home's value
Yes. Typical conditions include:
Contact us today for a custom estimate of your potential borrowing power with the Optional Payment Second. Our expert team will guide you step-by-step - from eligibility review through closing - and help you decide if this is the right tool for your unique situation.
*Age and availability vary by state. Please consult us for full details.
This material describes a proprietary second-lien reverse mortgage product (Optional Payment Second). Not all loans are available in all states, and terms are subject to change without notice. Borrowers must meet all obligations on their first mortgage and property. Interest and fees accrue over time and the loan balance grows. Repayment becomes due when the home is sold, borrower permanently moves out, or other maturity event occurs. This is a non-recourse loan: the borrower or heirs will not owe more than the home's value at sale.
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.
