A Home Equity Conversion Mortgage, also called a reverse mortgage, allows borrowers to convert some of their home equity into usable cash.

We provide both fixed and variable rate HECM loans.

We offer different plans for your loan disbursement:
• A lump sum at closing or after
• Tenure payments, which continue for as long as you live in the home
• Term payments for a set period of time
• A line of credit to draw on as needed or any combination of these, plus the ability to change your payment plan as needed.

You can use your reverse mortgage loan proceeds for anything you choose: supplement monthly living expenses, home repairs or renovations, medical costs, or consolidating credit card debt. If you have an existing mortgage loan, we must have enough proceeds from the new HECM mortgage to pay off the existing mortgage.

NO!

Repayment is required when the last surviving borrower no longer resides at the property or taxes and insurance on property are not kept current. The property must also be kept in good repair.

You always continue to own your own home!

While there are no credit score requirements, we still need to assess your income and credit for the purposes of qualifying for this loan.

Proceeds from a reverse mortgage are not considered income. HECM proceeds do not affect Social Security or Medicare benefits. Consult your tax advisor for more details.

Yes! A HECM mortgage loan can help you downsize by allowing you to use this product to purchase a new home better suited to your needs.