
What’s a Reverse Mortgage Loan?
For qualified seniors 62 and older, a reverse mortgage, the most common of which is the HECM (Home Equity Conversion Mortgage), is a way to turn a portion of their home equity into cash without having to make monthly mortgage payments. The borrower simply needs to maintain the home and pay property-related charges, like taxes and insurance.
Free up cash flow in retirement
Retirement should be about enjoying your life to the fullest, not worrying about how to close retirement income gaps.
Good news: You may be eligible for an FHA-insured HECM loan, exclusively for homeowners 62 and older.
NMLS #116705
704-607-1516
Andy.looker@fairwaymc.com
NMLS #762637
704-506-4948
Paul.caldwell@fairwaymc.com
*This does not constitute tax/financial advice. Consult a tax/financial expert regarding your specific needs.