Reverse Mortgage
A Home Equity Conversion Mortgage (HECM) allows homeowners 62 and older to convert part of their home equity into cash without selling their home or taking on monthly mortgage payments.
62
Min. Age
$0
Monthly Payment
Non-recourse
Loan Type
Key Features
- No monthly mortgage payments
- Multiple disbursement options
- FHA-insured HECM loans
- Non-recourse loan protection
Benefits
- Supplement retirement income
- Remain in your home
- No repayment until you move or pass away
- Tax-free proceeds
Requirements
- Age 62 or older
- Substantial home equity
- Property must be primary residence
- HUD-approved counseling required
Ideal For
- Retirees with limited income
- Seniors with significant home equity
- Those wanting to age in place
- Homeowners with no other housing debt
Ready to Get Started?
Contact Jimmy Joseph MBA to discuss your reverse mortgage options.
Jimmy Joseph MBA
NMLS #1577754
Branch NMLS #2477715
Let's Find Your Perfect Mortgage
Every situation is unique. Get personalized guidance from Jimmy Joseph MBA to find the best solution for you.