Reimagine your retirement with a Reverse Mortgage. A Home Equity Conversion Mortgage (HECM) loan–commonly known as a reverse mortgage–allows you to borrow against the equity in your home to access funds you can use immediately.
Reverse mortgages were once used primarily for cash flow purposes, but have since become a widely used tool for retirement funding. With a reverse mortgage, you can leave your nest egg untouched for longer, extend your retirement income and live the rewarding retirement you deserve.
How is a Reverse Mortgage Different from a Traditional Mortgage?
Unlike conventional mortgage or home equity loans, a reverse mortgage comes with no monthly payments. For the loan to remain in good standing, you just need to continue to pay property taxes and homeowners insurance, and keep the home in good repair. The loan must be repaid when you sell it or no longer live there as your primary residence.