Senior Lending.

Specifically created to serve the needs of Seniors

  • HECM

    The Home Equity Conversion Mortgage is a Federally Insured Loan that can be used to purchase or refinance a home with a one-time down payment.

    This eliminates the existing mortgage for as long as the borrower lives in the home, while still retaining ownership and reducing draws from retirement accounts to service the mortgage payment.

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  • HECM for Purchase

    The Home Equity Conversion Mortgage is a Federally Insured Loan that can be used to purchase a home with a one-time down payment.

    This enables you to buy a home for a little more than half the purchase price with no mortgage payments required for as long as you remain in the home.

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  • Senior Line of Credit

    The HECM Line of Credit is an FHA insured loan that allows flexibility in payments or even no payments.

    This offers liquidity in and out of the line of credit for as long as you remain in the home.

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  • Asset Depletion Loan

    The Asset Depletion loan allows you to qualify for a loan based on savings balance instead of income, by showing that you have ability to re-pay from savings.

    This is especially helpful for borrowers that no longer receive as much income, or wouldn’t qualify with income alone.

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  • Retirement Loan

    This minimal down loan, 30 yr Fixed Mortgage, is tailored for seniors to allow you to buy or refinance with a mortgage payment for essentially less than what you would pay for rent.

    The payment can be fixed in for life, giving you the security of owning a home while keeping the down payment and monthly payments low to keep more of your wealth liquid in retirement.

    Get Started

  • Schedule a Consultation

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    Fill out our short questionnaire and we'll contact you for a personalized consult, same-day!

    Schedule a Consultation

Home Equity Conversion Mortgage Basics

HECM

“We have purchased two homes in the past two years and couldn’t have made this happen without Brandon and the HECM loan. He’s the best in the business!”

— DAROLD & DORE S. - NEW HOMEOWNERS

  • A HECM Borrower:

    • Does NOT give up title to their home

    • The Lender DOES NOT take ownership of the house

    • The Lender DOES NOT take the appreciation if the value of the home increases

    • Does NOT incur debt that is passed onto their heirs (non-recourse loan)

    • Borrowers will NEVER owe more than the value of their home at time of repayment

    • Other assets will NEVER be used/required by the lender to satisfy repayment

    • FHA mortgage insurance will pay any shortfall from sale

    • Does NOT have to move or sell until they choose to do so(provided they comply with the terms of the loan)

    • Does NOT have to be debt-free to qualify

    • Does NOT always utilize all of their home’s equity with the reverse mortgage

    • All remaining equity belongs to borrower or their estate

    • Will NOT experience any impact on Social Security or Medicare benefits (always consult a trusted advisor)

    • HECM loans are not as expensive as people think

    • Closing costs are typical to “traditional” mortgages and can be financed

  • • All borrowers on title must be at least 62 years of age

    • Borrowers must complete counseling from a HUD approved counseling agency

    • Borrowers must occupy the home as their primary residence (live in home at least 6 months of the year)

    • Borrowers must own the home

    • The HECM must be first mortgage, but can be used to pay off existing liens

    • Borrower must remain current on property taxes, homeowner’s insurance & HOA dues

  • Home Equity Conversion Mortgages are non-recourse loans that allow homeowners 62 years of age and older to convert home equity into tax-free cash (consult local tax advisor)

    Some of the benefits include:

    • Residual income approach similar to VA

    • Credit based on willingness to pay

    • NO monthly mortgage payments required

    • Borrowers will always retain title to the home

    • Proceeds are tax-free (consult local tax advisor)

Senior Loans

Custom loans, created specifically to serve the needs of Seniors

  • The Home Equity Conversion Mortgage is a Federally Insured Loan that can be used to purchase or refinance a home with a one-time down payment.

    This eliminates the existing mortgage for as long as the borrower lives in the home, while still retaining ownership and eliminating the need to draw down your retirement accounts.

  • The Home Equity Conversion Mortgage is a Federally Insured Loan that can be used to purchase a home with a one-time down payment.

    This enables you to buy a home for a little more than half the purchase price with no mortgage payments required for as long as you remain in the home.

  • The HECM Line of Credit is an FHA insured loan that allows flexibility in payments or even no payments.

    This offers liquidity in and out of the line of credit for as long as you remain in the home.

  • The Asset Depletion loan allows you to qualify for a loan based on savings balance instead of income, by showing that you have ability to re-pay from savings.

    This is especially helpful for borrowers that no longer receive as much income, or wouldn’t qualify with income alone.

  • This minimal down loan, 30 yr Fixed Mortgage, is tailored for seniors to allow you to buy or refinance with a mortgage payment for essentially less than what you would pay for rent.

    The payment can be fixed in for life, giving you the security of owning a home while keeping the down payment and monthly payments low to keep more of your wealth liquid in retirement.

  • “Re-Casting,” or “re-amortization,” involves paying off a lump sum of the principal amount and asking to have the monthly payments reset according to the original interest rate and loan terms.

    This option is great for seniors that want to buy a home and when they sell an existing home, pay down the mortgage to the monthly payment they want, without the additional paperwork and hassle.

  • This low-cost, short term loan option is great for seniors wanting to buy a new home without waiting to sell their home, or having to put a sell contingency on their purchase offer.

    The Bridge Loan allows you to complete the purchase and sale transactions separately, without unnecessary real estate contingencies or fees.

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