Looking to stay in your home?
If you are a senior (62+) and have significant equity in your home you are eligible to apply for a Home Equity Conversion Mortgage loan (HECM). This loan allows seniors to eliminate their mortgage and in some cases receive monthly payments. The borrower may also receive loan funds as a lump sum, a line of credit, or a combination of a line of credit and monthly installment. Also known as a Reverse Mortgage, this loan may be used to purchase a new home so that you can downsize your residence.
There are a variety of different options when it comes Home Equity Conversion Mortgage Loans, let our team help you navigate and determine which of these options best suits your financial needs.