Equity Elite

An Innovative New Loan Product Available Exclusively from Reverse Mortgage Funding

What is Equity Elite®?


Many older homeowners and homebuyers use reverse mortgages as a financial tool to tap into the equity in their homes to gain more financial flexibility. 

Equity Elite is a low-cost reverse mortgage option specifically designed for those age 55 and older in select states. Higher minimum age requirements may apply. It allows borrowers to potentially tap into more funds than is possible with a HECM. 

As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance, and maintenance.

Why Equity Elite®?


Because traditional Home Equity Conversion Mortgages (HECMs) have certain limitations, the innovators at Reverse Mortgage Funding LLC (RMF) created and launched the Equity Elite reverse mortgage. 

Equity Elite offers many benefits that are not found with a traditional HECM reverse mortgage. 



Get Your Free Equity Elite® Quote

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Put Your Home Equity to Work for You with Equity Elite®

Equity Elite has certain advantages over other types of home equity-based loans, such as:

  • Available to borrowers age 55+ in select states. Higher minimum age requirements may apply
  • Higher home values can access more equity
  • A maximum loan amount of up to $4 million dollars
  • More condos can qualify
  • Equity Elite ZERO offers a lender credit to be applied towards most closing costs2  
  • Lower up-front costs
  • Retire more freely! 




Equity Elite Eligibility® Requirements      



  • All borrowers on the home’s title must be at least 55 years old in select states. Higher minimum age requirements may apply.
  • You must live in your home as your primary residence for the life of the reverse mortgage. Vacation homes or rental properties are not eligible.
  • You must own your home outright or have at least 50% equity in your home. Even if you owe some money on your existing mortgage, you may be eligible for an Equity Elite reverse mortgage. The funds from the reverse mortgage would first pay off your mortgage and satisfy any other eligible existing liens before you could use the funds for other things. Refinancing existing debt(s) with a reverse mortgage can help improve monthly cash flow.
  • You must meet with an approved Equity Elite reverse mortgage counselor. The reverse mortgage counselor will discuss how a reverse mortgage works and the associated costs. The goal of the counseling session is to make sure that potential borrowers fully understand and are comfortable with the process and the loan terms.




  • Single-family homes, or 2-to-4 unit properties with one unit occupied by you
  • Condominiums that are FHA-approved1, Fannie Mae-approved or RMF-approved
  • Townhouses


  • As with any mortgage—forward or reverse—you must show the financial ability and willingness to meet your loan obligations.  Your loan obligations include paying property-related taxes and insurance, and keeping up with regular home maintenance and repairs.

How Does Equity Elite® Work?


An Equity Elite reverse mortgage is a powerful financial tool that allows you to turn some of the equity in your home into funds you can use as you choose. Like a traditional mortgage, a reverse mortgage is a home-secured loan; but unlike a traditional mortgage it is specifically designed for homeowners as young as age 55 in select states. Higher minimum age requirements may apply.

The process to obtain an Equity Elite reverse mortgage is simple; but it’s helpful to know what you can expect. Here’s a reverse mortgage roadmap to help you along the way.



The road to your reverse mortgage starts with education. You may have heard a lot from friends and family or even from television about what reverse mortgages are, but it's important to weigh all the pros and cons for yourself. An experienced loan specialist like the professionals at Reverse Mortgage Funding LLC (RMF) can provide you with the information you need to help you decide if a reverse mortgage solution is the right choice for you.



If you decide to move forward, you'll choose a lender and submit your application to them. The application includes some personal information, and a financial assessment will be conducted to make sure you'll be able to afford ongoing expenses like property taxes, insurance and home maintenance.

You'll meet with an independent reverse mortgage counselor who's approved by the U.S. Department of Housing and Urban Development (HUD)1, to make sure you understand all aspects of the loan.



Your home will be appraised by an independent appraiser, to determine the value. Then the appraisal and loan package will be sent to an underwriter for review and approval. The underwriter will make sure all the information in the package is correct, complete, and compliant with all applicable laws and regulations.



After your loan application is approved, you will sign your closing documents with a title officer or attorney (depending on your state's requirements).



Three days after closing, the loan funds are disbursed and you can access them according to the payment plan you selected. Your loan funds will first be used to pay off any existing mortgage on your home, a new lien (the reverse mortgage) is placed on the home, and you can use the remaining funds from your reverse mortgage however you choose.

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