A Smarter Way to Fund Your Retirement
For homeowners 62 and older, a Reverse Mortgage (HECM) lets you convert your home's equity into loan proceeds, eliminating monthly mortgage payments.
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What is a Reverse Mortgage?
A Reverse Loan is a specialized home loan available for homeowners aged 62 or older that allows them to convert home equity into tax-free cash without making mandatory monthly mortgage payments.
The loan balance, which grows over time as interest and fees are added, only becomes due and payable when the last borrower permanently leaves the home (by moving out, selling, or passing away) or fails to meet loan obligations (such as paying property taxes, insurance, or maintaining the home).
Why Offer Reverse Mortgage?
For Borrowers
Allows seniors to "age in place" and supplement diminished retirement income without taking on mandatory monthly payments. The funds are non-taxable (loan proceeds) and protected by the Non-Recourse Feature.
For Lenders
Expands the product offering to a valuable demographic, helps clients better manage expenses while providing a means for the lender to earn interest on otherwise inaccessible home equity.