Reverse Mortgage
Turn Your Home Equity Into Financial Flexibility
A reverse mortgage can help homeowners 62+ access the equity they’ve built—without monthly mortgage payments.* Whether you’re looking to supplement retirement income, cover expenses, or create a financial cushion, we’ll guide you through your options with clarity and care.
What is a Reverse Mortgage-and Is It Right for You?
Our HomeSafe Second
Our HomeSafe Second is a fixed-rate second mortgage that allows you to tap a portion of home equity with no change to your first lien mortgage and no additional monthly mortgage payment required.*
Reverse for Purchase 4HP
Your dream home is closer than you think. With a reverse mortgage loan, you can boost your home-buying power with no monthly mortgage payments.
How a Reverse Mortgage Works
A reverse mortgage converts your home equity into usable cash, similar to a home equity line of credit (HELOC). The unique benefit of a reverse is that you don't need to pay back the loan month after month. Instead, you pay it all back at the end.
You don't make monthly mortgage payments.
You still pay your property taxes, insurance, and other property charges, as well as maintain the home.
You live in the house as your primary residence for as long as you like/are able to.
Meanwhile, the balance of the loan is accruing with interest. The balance of the loan accrues interest, which can be slowed by making optional payments.
Resources
See the links below:
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Reverse Mortgage Guidebook - View/Print PDF
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Self-Assessment-Is a Reverse Right for Me? View/Print PDF
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Ways to Use Your Equity- View/Print PDF
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Reverse Mortgage Loan Process - View/Print PDF
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Reverse Mortgage Calculator - Click Here
Can I apply for a reverse mortgage?
As a starting point, reverse mortgages are exclusively available to homeowners 55 and older, though some states or product types require you to be 60 or 62. Speaking with an experienced loan officer can help determine if a reverse mortgage is a sensible and available option for you.
How much do I qualify for?
Speaking with an experienced loan officer is the best way to get concrete numbers that reflect your individual situation. The amount you may qualify for is highly dependent on several variables, including:
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Your age (married/spouse- plz use enter youngest)
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Your home’s value
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The state you live in
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The reverse product and disbursement option you choose
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Current interest rates
We can help.
Guaranteed, Fast & Reliable Easy Loan Process
What’s the process for getting a Reverse Mortgage?
The reverse mortgage process is similar to getting any other mortgage. You’ll have licensed mortgage loan originators guiding you every step of the way.
Below are the basic steps to applying for a reverse mortgage.
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Step 1 Education
A licensed mortgage loan originator will assess your individual needs to determine if a reverse mortgage is right for your financial situation. This is a great time to get all your questions answered and your concerns addressed.
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Step 2 Counseling
Reverse mortgage applicants are required to undergo independent counseling to ensure that they fully understand their financial decision. Counselors are approved by the U.S. Department of Housing and Urban Development (HUD) and have no affiliation to lenders.
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Step 3 Application
As with any other loan, the application involves a lot of paperwork. A licensed mortgage loan originator will be by your side to let you know exactly which supporting financial documents you’ll need to provide, making the process as seamless as possible.
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Step 4 Processing & Appraisal
Once your application is complete, your loan officer will submit it for processing. A home appraisal will be scheduled to determine your property’s value and ensure your home is in a livable condition.
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Step 5 Closing
Once the loan is approved, the last step is to sign the final documents. Any existing mortgage(s) will be paid off with a portion of the proceeds from your reverse mortgage.
Reverse mortgages are loans that allow homeowners to convert home equity into cash. The loan balance increases over time and reduces home equity. The loan becomes due when the borrower sells the home, moves out permanently, or fails to meet loan obligations. Borrowers must continue to pay property taxes, homeowner’s insurance, and maintain the home as their primary residence. A HUD-approved counseling session is required. This is not a government benefit or grant. Reverse mortgages are insured by the Federal Housing Administration. These materials are not approved by HUD or a government agency. Consult a financial or tax advisor regarding your specific situation.