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Reverse mortgages are a way to tap into your home’s equity without having to sell your home. It’s a financial tool that older homeowners can use in their retirement to reach a variety of financial goals such as funding major home renovations, buying a new home, or simply having more peace of mind by having […]

A reverse mortgage loan is a safe and secure financial product that allows homeowners who are 62 years of age or older a way to access the equity in their homes without taking on additional monthly payments.   The most common type of reverse mortgage is the Home Equity Conversion Mortgage (HECM), which is insured by […]

A Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, provides a way for homeowners to tap into their home’s equity without having to sell their home or take on additional monthly mortgage payments.   Homeowners who take out a reverse mortgage loan have the option of receiving the money as a lump […]

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The HECM for Purchase Calculator estimates the money you might receive from a Home Equity Conversion Mortgage for Purchase. You must be 62 years of age or older. You must intend to live in the new home as your primary residence and occupy within 60 days of closing.