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In your current area 100 homeowners are currently utilizing reverse mortgages to better enhance their retirement years, with 500,000 nationwide!

The amount you receive is based on your home’s value, your age, and current interest rates. Let’s start with your address so I can estimate your home value…
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Great! It looks like your home value estimate is about

If you feel this estimate is not correct you can manually change it below. If you have an existing mortgage balance, I'll need to know the amount we are going to pay off to get rid of that mortgage payment!

Please provide your estimated home value

If you presently have an existing mortgage balance, I'll need to know the amount we are going to pay off to get rid of that mortgage payment!
(Our calculations use estimated property values provided by Estated.com. An independent HUD-approved appraiser must complete an appraisal to finalize your loan)
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The minimum qualifying age for a reverse mortgage is 55

Don’t forget to include your spouse’s age, even if they are not yet 55, as loan proceeds are always based on the age of the youngest spouse.
Your Age
Spouse Age
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Posts Tagged 'hecm'

Reverse Mortgage Final Rule Takes Effect September 19, 2017

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Reverse Mortgage Final Rule The purpose of this bulletin is to announce upcoming changes to HECM program due to the HUD Final Rule. This bulletin summarizes the key changes affecting the origination of HECM loans. Additional guidance on how to implement and apply the below changes is forthcoming. Implementation The changes will take effect on all loans with...
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What is a HECM: Home Equity Conversion Mortgage

    2 comments
We have all seen the commercials with Fred Thompson or Henry Winkler (a.k.a. “The Fonz”) touting reverse mortgages as a financial product that can help you remain in your home and improve your cash flow in retirement. However, you may not be too familiar with how reverse mortgages actually work, who they can benefit, and the different kinds of options...
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Reverse Mortgage vs HELOC: Side-by-Side Comparison

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I would like to know how a "line of credit" would work compared to a HELOC.  I owe a 2nd on my home for approx. 9,000.00.  The first will be paid off in Dec. 2012.  My home NOW is worth approximately $210,000.00.  The 2nd is with Chase Home Equity. I would like to ONLY borrow enough at times on the...
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HECM Standard vs HECM Saver Reverse Mortgages

    1 comment
Seniors looking to obtain a reverse mortgage have a few different products available to help them withdraw equity from their home. The Federal Housing Administration (FHA) offers the Home Equity Conversion Mortgage (HECM) Standard and the HECM Saver. Both products require borrowers to be at least 62 years old to qualify and provide consumers access to their home equity in...
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