Reverse Mortgages
Turn home equity into financial flexibility.
Program Overview
What is a Reverse Mortgage Loan?
A reverse mortgage allows homeowners age 62 and older to convert part of their home equity into cash without selling their home or making monthly mortgage payments. The most common type is the FHA-insured Home Equity Conversion Mortgage (HECM).
Borrowers remain on the title, continue living in the home, and receive funds as a lump sum, monthly payments, a line of credit, or a combination. The loan is typically repaid when the home is sold or the last borrower no longer lives in the home.
*Reverse mortgage borrowers must continue to meet loan obligations,
including paying property taxes, homeowners insurance, and maintaining the property.
Key benefits
Why Borrowers choose this loan?
No Monthly Payments
Eliminate required monthly mortgage payments while keeping your home.
Flexible Payout Options
Choose a lump sum, monthly income, line of credit, or a combination.
Retain Home Ownership
You stay on the title and remain in your home.
FHA-Insured Option
HECM reverse mortgages offer government-backed protections.
Tax-Free Proceeds
Loan proceeds are generally not considered taxable income.
Non-Recourse Feature
You or your heirs will never owe more than the home's appraised value at sale.
eligibility
Do you Qualify?
Every borrower's situation is unique. Below are typical guidelines. Our loan officers will review your specific scenario and confirm eligibility quickly.
✔ Youngest borrower must be at least 62 years old
✔ Home must be your primary residence
✔ Sufficient home equity is required
✔ Borrower must complete HUD-approved counseling
✔ Property must meet FHA eligibility requirements for HECM programs
