Unlock Your Home’s Equity & Enjoy a More Secure Retirement

Explore how you can turn your home equity into a financial resource.

What is a Reverse Mortgage?

A Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, is a federally backed loan that allows homeowners 62 years or older to convert a portion of their home equity into cash without having to sell their homes.

With a reverse mortgage:

You eliminate monthly mortgage payments while staying in your home.*
You can receive funds as a lump sum, monthly payments, a line of credit, or a combination.**
The loan is not repaid until the last borrower (or eligible non-borrowing spouse) no longer lives in the home.

How Does a Reverse Mortgage Work?

1
Consultation: Speak with a HECM specialist to see if it's right for you.
2
Application & HUD-Approved Counseling: Required step for all borrowers.
3
Home Appraisal & Loan Approval: Determine the home value and loan amount.
4
Choose Your Payment Option: Lump sum, monthly payouts, or line of credit.
5
Receive Your Funds: Close your loan and access cash.

Who is Eligible?

To qualify for a HECM reverse mortgage, you must:

Be at least 62 years old
Live in the home as your primary residence
Must own your home
Continue paying property taxes, homeowners insurance, and maintenance costs

How Can You Use Your Reverse Mortgage Funds?

Supplement Your Retirement Income – Enjoy more financial freedom.
Pay Off Your Existing Mortgage or Debts – Eliminate monthly mortgage payments.*
Fund Home Renovations – Make your home more comfortable as you age.
Cover Medical Expenses – Plan for healthcare costs.
Save for a Rainy Day – Establish a financial safety net.

Learn More

* Borrower must occupy home as primary residence and remain current on property taxes, homeowner’s insurance, the costs of home maintenance, and any HOA fees.

** Borrowers must continue to pay property taxes, homeowners insurance, and maintain the home as per loan requirements.