Reverse Mortgage Programs
Home Equity Conversion Mortgage (HECM)
The government-sponsored Home Equity Conversion Mortgage (HECM) is one of the most flexible loans available for senior homeowners 62 and over.
HECM is the only Reverse Mortgage insured by the U.S. Federal Government and is only available through an FHA-approved Lender. The HECM program allows homeowners to convert a portion of their home equity into cash that can then be used however they wish, with no monthly mortgage payments.
The HECM lets you choose from several payment options:
- Single, lump-sum disbursement
- Fixed “Term” option
- Fixed “Tenure” option
- A line of credit
- A combination of monthly payments and a line of credit
Speak with a Reverse Mortgage Specialist today at (888) 982-0475 for a free consultation.
Proprietary “Jumbo” Reverse Mortgage
These private Reverse Mortgages offer many of the same consumer protections as a HECM, though are not insured by the federal government. These Reverse Mortgages are more geared towards higher valued homes and offer loan amounts of up to $4,000,000.
Benefits of a Proprietary Reverse Mortgage:
- Single, lump sum disbursement
- Line of credit
- Loan amounts up to $4,000,000
- Minimal up-front costs
Ready to learn more? Call (888) 982-0475 for a free consultation.
HECM for Purchase
Also known as H4P, the HECM for Purchase allows a borrower to purchase a home using a Reverse Mortgage. The Reverse Mortgage will cover a portion of the purchase price, while the borrower will be required to provide a down payment for the remainder.
- Rather than purchase a home outright, the H4P allows for the conservation of much of those funds, while still retaining the benefit of no required mortgage payments.
- Supplement retirement savings using the conserved funds.
- Increase purchasing power.
- Relocate or downsize to something that better suits your needs.
Call (888) 982-0475 to learn more about the HECM for Purchase program.
Interested in a Reverse Mortgage?
Benefits of a Reverse Mortgage
Put simply, a reverse mortgage loan provides seniors with the financial security they need in retirement while allowing them to stay in their home. There are many distinct benefits that make a reverse mortgage appealing to so many.
- Borrower retains ownership of their home.
- Borrower is not required to pay monthly mortgage payments.
- Borrower is protected if the housing market declines.
- Borrower can live in the house for the rest of their life.
- Borrower is not taxed on any proceeds they receive from the loan.
Getting Started
Are you ready to use your largest asset to unlock your housing wealth today and provide extra financial security for your tomorrow? Your Arizona, California, and Colorado Reverse Mortgage Specialists are here to help!
Customer Feedback
Taryn and Deb were extremely helpful and concise with navigating a complex loan scenario with many variables. They have much experience and work hard to make goals possible. We made the right choice and are grateful to have found this team of dedicated and knowledgeable specialists.
When we first began our research, we discovered that most brokers do not have much experience with reverse mortgages. However, once we received a referral to RHEA, we realized we were in the right place. Taryn is very knowledgeable about all the ins and outs of reverse mortgages, and she was able to guide us with care every step along the way. She answered all of our questions, provided good advice, and stayed helpful and responsive to the completion of our loan process. We are very satisfied and would highly recommend RHEA and Taryn!
Both Taryn & Deb were in constant communication, their professionalism was Above & Beyond. Very friendly, this is who you want to work for you in obtaining your Reverse Mortgage. Not all Brokers are created equal. I am a very satisfied customer. A Big Thank You to both Taryn & Deb!
First class all the way. Taryn walked me though a difficult closing and saved me thousands of dollars along the way. I would recommend her without reservation.
I was very lucky to get Taryn to do my loan, as she was able to explain everything so I could understand the loan. I would use her again or tell others how great she is. thank you Taryn.
Taryn and her team were terrific -- my loan had some complications regarding documentation that she persistently overcame. I ended up with a solid Reverse Mortgage at a great rate. I'm very satisfied.
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Not sure if a reverse mortgage is right for you? Learn more about the pros and cons of reverse mortgages now with our free info kit. Please fill out the form below to receive your copy.
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