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.

A Few of the Many Benefits

As a HECM Borrower, you can:

  • Access a percentage of your built-up housing wealth as cash, fixed monthly advances or a line of credit.
  • Use HECM loan proceeds at closing to refinance (pay off) your payment-required traditional mortgage.
  • Pay as much or as little toward the loan balance each month as you want, or you can defer repayment by not making any monthly principal and interest payments for as long as you live in your home. You just have to maintain the home and pay the property charges, like taxes and insurance.

Reverse Mortgage MYTHS

1.  The home reverts to the lender upon vacating the home.  FALSE

2.  The entire debt is due and payable within 30 days.  FALSE

3.  The borrower or heirs are responsible for debt.  FALSE

4.  The title to the home is in the lender’s name.  FALSE

5.  The loan can be called for any reason.  FALSE

6.  The borrower can have the note called because of age.  FALSE

7.  If payments are made, they are not tax deductible.*  FALSE

8.  There is no monthly payment.  FALSE  

9.  There is only one way to receive the loan funds.  FALSE

10.  The funds are taxable by the IRS.*  FALSE

*This advertisement does not constitute tax advice. Please consult a tax advisor regarding your specific situation.

Why Fairway?

Fairway Independent Mortgage Corporation is a national mortgage lender with top-notch customer service. We are committed to providing you with an amazing experience – from loan application to closing, and beyond.

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Get Started Today!

Get Started Today!

Turning Home Equity Into Life-quality

Find out if you could benefit from a Reverse Mortgage.