Access Your Home Equity With a Reverse Mortgage

If you are looking for ways to supplement your retirement income, a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (HECM) commonly know as a reverse mortgage, may be the answer. A HECM loan allows you to access a portion of your home’s equity without having to make monthly mortgage payments. If you are 62 year of age or older and have sufficient home equity, you may be able to obtain the funds you need to:


  • Pay off your existing mortgage
  • Continue to live in your home and maintain the title.
  • Pay off medical bills, vehicle loans or other debts.
  • Improve your  monthly cash flow
  • Fund necessary home repairs or renovations
  • Build a “safety net” of unplanned expenses.

Frequently asked Questions

How does a HECM work?

The amount you receive is based on current interest rates, the age of the youngest borrower and the lesser of the appraised value of your home, sale price or the maximum lending limit. The funds available to you may be restricted for the first 12 months after loan closing, due to HECM requirements. In general, the older you are, the more equity you have in your home and the lower your mortgage loan balance, the more money you can expect from a HECM loan.

How do we receive the money?

We offer fixed and adjustable rate HECM options. Either option can be used to access equity on a home you already own or to purchase a new home. If you have an existing lien on the property, it must be paid off as part of the HECM transaction. Both options eliminate monthly mortgage payments and do not require repayment as long as the loan obligations are met.