Create Your Financial Safety Net
In these uncertain times, having a financial safety net is more important than ever. By tapping into your home equity, you can take control of your finances and increase your cash flow with income-tax-free funds.†
Protect your home and your financial future with a federally-insured* reverse mortgage—also known as a Home Equity Conversion Mortgage (HECM).
Unlike a regular mortgage or home equity loan, a HECM allows you to pay whatever you want each month, even no payment at all. Plus, you retain 100% ownership of your home and you’ll never owe more than the home is worth when the loan is repaid.
As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance, and maintenance.
At a minimum, to be eligible for a HECM you must:
- Be 62 years of age or older
- Have at least 50% equity in your home
- Live in your home as your principal residence throughout the duration of the loan