Your Guide to Reverse Mortgages

What is an HECM reverse mortgage?

Home Equity Conversion Mortgages (HECMs), also known as reverse mortgage loans, help Americans age 62 and older convert a portion of their home equity into tax-free money.1 They are insured by the Federal Housing Administration (FHA) and allow seniors to age in place and achieve retirement security.

How does it work?

A reverse mortgage loan allows you to turn some of the equity in your home into cash to improve your lifestyle in whatever way you choose.  You will continue to live in your home, retain ownership and will not be required to make any monthly mortgage payments2 during the loan period.

Get connected with one of our Reverse Mortgage Specialists today!


Elaine White

Vice President
Mortgage Lender
NMLS# 419917


Regina McDowell

Assistant Vice President
Sales Manager
NMLS# 660733

Common uses of a reverse mortgage:
  • Pay off an existing mortgage3 and eliminate monthly mortgage payments.
  • Make retirement savings last longer.
  • Use a “standby” HECM reverse mortgage growing line of credit to preserve investment accounts during market downturns or build a safety net for unplanned emergencies, home repairs, and healthcare expenses.
  • Supplement your retirement income with monthly payments.
  • Use an HECM for Purchase loan to buy a home that better fits your needs.
  • Support aging in place expenses, like caregiving and home modifications.
Qualifications include:
  • You must be age 62 or older (a non-borrowing spouse may be under 62).
  • Live in your home (this program is not available for second homes, vacation homes, or investment properties).
  • The borrower must own the home (the borrower must meet the financial requirements of the HECM program).
  • Home meets, and continues to meet, minimum FHA property standards.

1 Please consult with your tax advisor.
2 Borrower must continue to pay for property taxes, homeowner’s insurance, and home maintenance.
3 Required as part of the loan.

These materials are not from HUD or FHA and were not approved by HUD or a government agency.