HECM - Home Equity Conversion Mortgages (Reverse Mortgage Loans) are backed by the Government

62 Years of Age or Older - Owner Occupied Home

Fixed and Adjustable Rates, Lines of Credit, Lump Sum and Monthly Payouts Available

Purchase and Refinance Transactions Available

No Restrictions on use of Funds

Lines of Credit grow over time - Tax Free!

Condominiums now available (Spot Approvals)

Higher Loan Amounts available due to increased FHA Loan Limits in 2020

Jumbo Loan Amounts available through Private Reverse Mortgage Providers

 

  ** REVERSE MORTGAGE LOANS - CONSUMERS MUST COMPLETE INDEPENDENT COUNSELING PRIOR TO TAKING A REVERSE MORTGAGE LOAN APPLICATION.  NO MONTHLY MORTGAGE PAYMENTS ARE REQUIRED, HOWEVER, THE CONSUMER REMAINS RESPONSIBLE FOR THE PAYMENT OF THE PROPERTY TAXES, HOMEOWNERS INSURANCE AND MAINTENANCE FEES, IF APPLICABLE.  THERE ARE MINIMAL INCOME AND CREDIT REQUIREMENTS NECESSARY TO QUALIFY FOR A REVERSE MORTGAGE LOAN.  THIS AD IS NOT FROM HUD OR FHA AND WAS NOT APPROVED BY HUD OR ANY GOVERNMENT AGENCY.