programs

HECM

Home Equity Conversion Mortgage; in brief, FHA's reverse mortgage program designed for homeowners over age 62 to convert equity in their home into usable income, ordinarily involving getting their mortgages paid off.

Proprietary reverse mortgages

Designed for seniors to accomplish many of the same objectives of a HECM, however qualifying requirements may be slightly different, such as age. If you are not 62 yet but think you might qualify, contact us.

HECM/ Reverse mortgage refinance

This is when a houseowner has a HECM or reverse mortgage in place, however there may be aspects of it the houseowner would like to improve on to the houseowner's advantage, such as reduce the interest rate on it, that is growing the balance. The potential result of the refinance would then be to enable heirs with a lower balance on the property, often making it more manageable.

Mortgage refinance

When a mortgage exists and the houseowner wishes to obtain from a number of advantages, such as a lower rate or payment of a mortgage on the house.

House purchase

A prospective houseowner would like to purchase a property with the help of a new mortgage.