HECM / Reverse Mortgage

Insured by the Federal Housing Administration (FHA), the Home Equity Conversion Mortgage (HECM)—also known as a “reverse mortgage”—allows homeowners age 62 or older to access a portion of their home’s equity in the form of a loan. The funds accessed are income tax-free, DO NOT require monthly mortgage payments—and allow the borrower to retain ownership and title to their home.

A reverse mortgage allows you to stop making mortgage payments (principal & interest), only requiring your payment of other property payments/expenses; taxes, home owners insurance, HOA, maintenance, etc. Additionally, you can access equity in your home as cash via lump sum, credit line, or disbursements. Credit lines can grow over time.

Additionally, there are other reverse proprietary loan products, non-FHA, that can be of benefit depending on the circumstance.

I have simplified the process of obtaining a reverse mortgage into a few key steps. After helping you determine if this is the right product for you, I will assist you with:

1. Completing the application

2. Receiving the required independent counseling

3. Having an appraisal completed on your home

4. Closing your loan and receiving your funds