You've worked hard all your life to build up equity in your home.  Now you are going to reap the benefits of your hard work.  Congratulations!

Borrower Requirements:

• Age 62 years of age or older 
• Own your property 
• Occupy your property as primary residence 
• Participation in a consumer information session given by an approved HECM counselor 

Mortgage Amount Based On:

• Age of the youngest borrower 
• Current interest rate 
• Lesser of appraised value or the FHA insurance limit 

Financial Requirements:

• No income or credit qualifications are required of the borrower 
• No repayment as long as the property is the primary residence 
• Closing costs may be financed in the mortgage 

Property Requirements:

• Single family home or 1-4 unit home with one unit occupied by the borrower 
• HUD-approved condominiums 
• Manufactured homes ; fee simple 
• Meet FHA property standards and flood requirements 

If you need assistance locating a FHA-approved lender, visit the following list of lenders and loan officers located in or near your home, CLICK HERE

Reverse Mortgage Association for Loan Officer (REMALO) attest to a strict Code of Ethics.  CLICK HERE