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Each homeowner has different needs; different Reverse Mortgage programs have been structured to help you meet your individual financial objectives.
HUD/FHA Home Equity Conversion Mortgage (HECM)
- Government-insured program
- Subject to HUD/FHA loan limits for your geographical area
- Adjustable Rate HECM offers the most flexibility in payout options and typically a lower initial interest rate. Payout options include lump sum, monthly check, line of credit, or a combination of the three.
- Fixed Rate HECM offers the security of a fixed rate for the life of the loan, but requires a full draw of funds without the monthly payment or line of credit options.
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