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Reverse Mortgages

Reverse Mortgage Products

Reverse Mortgage Products

There are two types of Reverse Mortgage options available to meet your individual needs:
  • HUD/FHA Home Equity Conversion Mortgage (HECM)
    A government-insured program that provides cash, a line of credit or a monthly income as long as the person lives in the home.

  • HECM for Purchase Program
    Created by the Housing and Economic Recovery Act of 2008, this allows a senior to relocate by purchasing a new principal residence and obtain a Reverse Mortgage within a single transaction eliminating the need for a second closing.

FHA Mortgage Limits

The Department of Housing and Urban Development (HUD) approved a maximum single national loan amount of $625,000 for federally-insured Home Equity Conversion Mortgages (HECM).
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