HomeOwners Ages 62 Years and Older

Reverse Mortgage – Allows homeowners ages 62 and older to exchange home equity for cash while staying living in their home.

• The funds can be used at the homeowner’s discretion.
• The homeowner won’t pay taxes on the money they receive.
• They loan is repaid when the house is sold or the homeowner moves out.
• It’s a Non-Recourse Loan.

HECM (Home Equity Conversion Mortgage) for Purchase – Is a Reverse Mortgage that allows seniors, ages 62 and older, to purchase a new principal residence using loan proceeds from the reverse mortgage of the new principal residence.

For More Information on Reverse Mortgages Click Here

For More information on the Federal Housing Administration and Loan Programs Click Here