Turn Your Home Equity Into
Retirement Possibilities

A reverse mortgage is a loan secured by your home that allows eligible homeowners age 62+ to convert part of their home equity into funds without having to sell the home, pay monthly mortgage payments, or make monthly mortgage payments. The loan is repaid when the borrower permanently moves out of the home, sells the home, or passes away.

To be eligible for a HUD Home Equity Conversion Mortgage (HECM), you must be age 62+ and own your home or have substantial equity. Your home must be your primary residence, you must occupy the home, and you must be current on property taxes and insurance. Your home must also meet HUD property standards.

While you don't need perfect credit, lenders do review your credit history as part of the underwriting process. Your credit may affect your interest rate and loan terms. Your financial situation is reviewed as part of a comprehensive assessment to help ensure the loan is appropriate for your situation.

Yes! You remain the owner of your home. You keep the title for as long as you live in the home. A reverse mortgage is a loan secured by your home, and you continue to be responsible for property taxes, insurance, and maintenance, just as you would be with a traditional mortgage.

If you have an existing mortgage, a reverse mortgage can be used to pay it off during the closing process. In many cases, this eliminates your monthly mortgage payment and increases your available cash flow. Your specialist can review your specific situation during your consultation.

Yes. With a reverse mortgage, you continue to be responsible for property taxes, homeowner's insurance, and property maintenance. Failure to pay taxes or insurance could result in loan default. We believe in transparent, honest advice about all homeowner obligations.

The amount you may be eligible for depends on factors like your age, home value, current mortgage balance, interest rates, and HUD lending limits. Typically, the older you are, the more equity you may be able to access. Your specialist can provide personalized guidance during your consultation.

When you permanently move out of the home, sell the home, or pass away, the loan becomes due. Typically, the home is sold and the loan balance plus interest is repaid from the sale proceeds. Any remaining equity belongs to you or your estate. If you or your heirs wish to keep the home, they can refinance to pay off the balance.

Decisions involving your home and retirement can affect more than one person. We encourage family involvement. With your permission, invite your spouse, adult children, or trusted financial advisor to participate in your educational consultation so everyone is on the same page.

HECM for Purchase allows you to buy a new primary residence using a reverse mortgage. Instead of taking out a traditional 30-year mortgage, the HECM for Purchase loan doesn't require monthly mortgage payments. This option is designed for seniors looking to move into a new home while managing their retirement finances.