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What is a Reverse Mortgage Loan?
For qualified seniors 62 and older, a reverse mortgage, the most common of which is the HECM (Home Equity Conversion Mortgage), is a way to turn a portion of the equity in your home into cash without having to make monthly mortgage payments.
Benefits
- No monthly mortgage payments except for taxes, insurance, and maintenance
- Growing line of credit (applies to unused funds)
- Increased discretionary cash flow
- Can sell YOUR home at any time
- Does not require payment until last living borrower permanently leaves the home
- Bridge the medicare gap
- Increase your purchasing power
Eligibility
- Borrower(s) must be 62 years or older
- Must be a homeowner and either own home out right or have significant equity
- Must live in home as the primary residence (live there 6+ months per year)
- The property must be a single-family home, a 2 to a 4-unit dwelling or FHA-approved condo
- Must meet minimal credit and property requirements
- Must receive reverse mortgage counseling from a HUD approved counseling agency
Experience Matters
Whether you’re optimizing your existing reverse mortgage, evaluating a new HECM, or purchasing a home with reverse financing, the path can feel complex. Our seasoned reverse mortgage professionals handle every detail—from loan analysis and equity planning to counseling coordination and closing—so you experience clarity, confidence, and financial comfort throughout the process.
Refinance Your Reverse Mortgage
Explore refinancing options that allow you to use your home’s equity more effectively, access extra cash when you need it, and update your mortgage terms to better match your current goals, payment comfort, and financial plans.
Home Equity Conversion Mortgage (HECM)
A home loan that allows you to convert a portion of the equity in your home into cash, HECMs are insured by the Federal Housing Administration (FHA) and you can only get one through an FHA-approved lender.
Jumbo Reverse Mortgage
Allows you to access more equity on a high-value property. The home value limit you can borrow against with a jumbo reverse mortgage is higher than the current limit you would face with a traditional HECM reverse mortgage ($1,209,750).
HECM For Purchase
A home loan you can use to purchase a new home, designed to make it easier to afford a property that better fits your lifestyle, long-term comfort, and housing needs during retirement. while maintaining flexibility.