Your equity. Your retirement. No monthly payment.
For homeowners 62 and older, a reverse mortgage converts home equity into cash, a line of credit or monthly income, with no required monthly mortgage payment. You keep the title and stay in your home.
Access what you have built without selling or taking on a payment.
A Home Equity Conversion Mortgage (HECM) is FHA-insured. The loan is repaid when the last borrower leaves the home, typically from the sale. You remain responsible for taxes, insurance and upkeep, and you can never owe more than the home is worth.
Who it fits
- Homeowners 62 and older with substantial equity
- Retirees who want to eliminate a monthly mortgage payment
- Homeowners who want a standby line of credit that grows over time
- Buyers 62+ purchasing a new home with a HECM for Purchase
- Families planning for long-term care or in-home support costs
Let’s find the right fit.
Apply now or talk through your options with Erick.
Why borrowers choose Reverse mortgages.
No monthly mortgage payment
Pay off your current mortgage and stop making payments. Taxes, insurance and maintenance remain your responsibility.
Growing line of credit
The unused portion of a HECM line of credit grows over time, regardless of home value.
Non-recourse protection
FHA insurance guarantees you or your heirs never owe more than the home is worth when the loan is repaid.
Stay in your home
You keep title and can live in the home for life as long as you meet the loan terms.
HECM for Purchase
Buy a new home with a reverse mortgage and no monthly payment, often with about 50% down.
Flexible payout
Lump sum, monthly payments, a line of credit or a combination.
Typical requirements
Youngest borrower must be 62 or older
Home must be your primary residence
Significant equity (typically 50% or more)
Completion of HUD-approved counseling
Ability to keep paying property taxes, homeowners insurance and HOA dues
Guidelines vary by lender, program and property. Erick will confirm exact requirements for your file.
How it works
Quick call.
Ten minutes on the phone. You tell Erick the goal, he tells you the realistic options.
Pre-approval.
Send documents through a secure link. Most pre-approvals are issued the same day.
Lock and process.
Rate locked, file submitted, updates in plain English every step.
Close.
Sign with a remote online notary where available, or in person. Keys in hand.
Reverse mortgages FAQ
Will the bank own my home?
No. You keep title. The lender holds a lien, just like a traditional mortgage.
What happens when I pass away or move out?
The loan becomes due. Your heirs can sell the home and keep any remaining equity, refinance to keep it, or walk away with no personal liability.
Are the proceeds taxable?
Reverse mortgage proceeds are loan advances, not income, and are generally not taxed. Consult your tax advisor.
Can I lose my home?
Only if you fail to meet the loan terms: living in the home, paying property taxes and insurance, and maintaining the property.
How much can I receive?
It depends on your age, current interest rates, your home value and the FHA lending limit. Erick will prepare a personalized estimate.
Ready to talk numbers?
Call, email or send a quick message. Erick answers questions directly and tells you what fits, and what does not.
