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Reverse Mortgages

Group of Seniors entertaining each other


A Reverse Mortgage is a loan against home equity (not income) providing cash advances to a homeowner/borrower age 62 and over, and requiring no repayment until a future time.

HECM Reverse Mortgage Counseling is an important and mandatory prerequisite to begin working with a lender to obtain a HECM reverse mortgage.

Homeowners aged 62 and over may utilize their equity to establish a line of credit, receive a lump sum, monthly payments and/or get rid of their existing principal and interest payments. This option may offer financial flexibility and security.

Home Equity - the value of a home minus any debt against it


Cash Advances - also known as loan advances, payments, or disbursements

  • may be a single "lump sum"
  • a series of periodic advances
  • a "line of credit"
  • any combination - lump sum at closing, then so much per month plus line of credit

Repayment of principle, interest, and loan fees is not required in most Reverse Mortgages until:

  • borrower dies
  • sells the home
  • permanently moves away

For more information, call 303.739.7900

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