Reverse Mortage Benefits
  • The HECM loan is FHA-insured
  • Enrich your life and maintain your financial self-reliance
  • Allows you to continue to live in your home
  • You retain title (ownership) to your home, providing you continue to pay taxes and insurance
  • Make no monthly mortgage payments
  • Typically, there are no income, credit or health qualifications
  • It is a non-recourse loan - you'll have peace of mind knowing that the HECM borrower (or his or her estate) will never owe more than the loan balance or value of the property, whichever is less; and no assets other than the home must be used to repay the debt. This applies only when the borrower or estate choose to sell the property to pay off the reverse mortgage loan. If the borrower or estate want to retain the property the balance must be paid in full
  • Money for whatever you want...insurance, healthcare, home modifications, cash reserve, etc.
  • Enjoy the flexibility of determining how you wish to receive your cash disbursements
  • Repay the loan at any time without penalty