What are the advantages of a reverse mortgage?

The HECM Reverse mortgage loan may offer advantages that provide relief from financial challenges. Whether you’re looking to pay off bills, purchase a new home, or convert your equity to additional income to help enjoy your retirement, the HECM loan may be the answer for you.

  • Easy To Qualify
  • Generally no impact on Social Security or Medicare Benefits (Exceptions may apply)
  • You Maintain Ownership as long as you abide by the HUD conditions
  • Proceeds are NOT CONSIDERED INCOME
  • May Eliminate Your Monthly Principal and Interest Mortgage Payment (You must stay current on paying property taxes, insurance, HOA fees, maintain home and comply with loan terms)

Give us a call to learn more:

(800) 779-1020

Important Disclosure

(1) the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home; and
(2) charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees;
(3) the loan balance grows over time and interest is charged on the outstanding balance;
(4) at the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds;
(5) interest on a reverse mortgage is not tax-deductible until the borrower makes partial or full re-payment.

5 Important Things To Understand As You Consider A HECM Reverse Mortgage Loan

1

At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds.

2

Charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees.

3

The loan balance grows over time and interest is charged on the outstanding balance.

4

The borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home.

5

Interest on a reverse mortgage is not tax-deductible until the borrower makes partial or full repayment.