Reverse Mortgage Loan
"Home Loans Done Right"
Real Estate Broker, CA Department of Real Estate. License 01440772, NMLS License 237847
Call: 866-966-9045 Today!
Reverse mortgages are becoming popular in America. HUD's Federal Housing Administration (FHA) created one of the first, the Home Equity Conversion Mortgage (HECM). A HECM (also known as a reverse mortgage) is a federally insured loan that enables you to withdraw some of the equity in your home or use the loan proceeds to buy a new primary residence that you will occupy. The HECM is a safe alternative resource that can provide older Americans with greater financial security and independence. Many seniors use it to supplement social security, meet unexpected medical expenses, and make home improvements.
Requirements:
- 62 Years of Age or Older
- Property used as collateral must be the primary residence
- No delinquencies on any federal debt, suspensions, or debarments
- Completion of HECM counseling
- Home should be free and clear or have equity of at least 40-50% of the appraised value
Apply for a Reverse Mortgage loan by clicking here. Quick App.
