Loan Options
Reverse mortgages, explained honestly
A Home Equity Conversion Mortgage lets homeowners 62 and older access home equity while remaining in their home. It's the right tool for some situations and the wrong one for others — we'll tell you which is which.
What is a HECM?
A Home Equity Conversion Mortgage (HECM) is the FHA-insured reverse mortgage. Instead of making monthly principal-and-interest payments, the loan balance grows over time and is repaid when the last borrower sells, moves out, or passes away. Proceeds can be taken as a lump sum, monthly payments, a line of credit, or a combination.
A good fit if you
- Are 62 or older and have substantial equity in your primary residence
- Want to supplement retirement income, eliminate an existing mortgage payment, or create a standby line of credit
- Plan to remain in your home for the foreseeable future
- Have discussed the decision with family or a financial advisor
Your ongoing obligations
- You must continue paying property taxes and homeowner's insurance
- You must maintain the home and keep it as your primary residence
- The loan must be repaid when the last borrower leaves the home
- HUD-approved counseling is required before you can apply — this protects you
Questions we'll answer before you decide
- How much of your equity is actually accessible, and at what cost
- How a HECM affects what you leave to your heirs
- Whether alternatives — downsizing, a HELOC, or a conventional refinance — fit better
This material is not from HUD or FHA and has not been approved by HUD or any government agency. A reverse mortgage is a loan that must be repaid. Borrowers remain responsible for property taxes, insurance, and maintenance. HUD-approved counseling is required before obtaining a HECM.
Not sure which program fits? That's our job.
Talk with a licensed loan originator — no documents needed, no credit impact, no obligation.
Get Pre-Qualified Call (570) 207-6334