Turn Equity into Income With a Reverse Mortgage

The Home Equity Conversion Mortgage

The most common reverse mortgage is the Home Equity Conversion Mortgage (HECM), which is insured by the federal government. Following recent legislation, there are new increased borrowing limits are available along with the ability to purchase a new home with this program. Other options are available as well, so if you’re not sure which is best, contact us today.

Benefits of a Reverse Mortgage

Borrowers choose reverse mortgages for a number of reasons, including:

• Eliminates your existing mortgage payments
• No monthly payments are required (borrowers must continue to pay taxes, insurance and maintain the home in good condition)
• Delivers tax free monthly income (consult your tax advisor)
• Allows homeowner to live in their home
• Title to the home remains in the homeowners name
• The customer can now also use a Reverse Mortgage to purchase their new home.

Get Started Today