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Reverse Mortgage Products

HECM - The Home Equity Conversion Mortgage (HECM) is the only reverse mortgage insured by the federal government. HECM loans are insured by the Federal Housing Administration (FHA), which is a part of the U.S. Department of Housing and Urban Development (HUD). FHA tells HECM lenders how much they can lend you and also limits the loan costs. FHA also guarantees that lenders will meet their obligations.

This program provides four different draw options: 1) lump sum cash, 2) line of credit, 3) monthly income for life or for a fixed term, or 4) a combination of the above three.

  • National Maximum Lending Limit of $625,500 (limit may adjust annually)
  • Government Insured Program.
  • Variable T-Bill interest rate plus margin is adjusted monthly or annually.
  • Available balance in Line of Credit grows annually.
  • Monthly servicing fee is added to the loan balance.
  • HECM may now be available for home purchase (please contact approved lender for specifications and availability)
  • Counseling is required by an approved HUD counselor.