We have developed this website to provide home owners and their families a place to gather information about reverse mortgages and help conclude if one is right for you. Our goal is to help you navigate the reverse mortgage process and help you obtain the best reverse mortgage loan available.
A reverse mortgage loan is simply a home mortgage loan that allows you to borrow a portion of the equity in your home. The reverse mortgage loan works in the opposite or reverse of a traditional home loan in that there are no required monthly payments. A reverse mortgage is also commonly referred to as a HECM (Home Equity Conversion Mortgage).
Unlike a traditional mortgage loan, the reverse mortgage qualification process is simple - there are no credit or income requirements to qualify, one of property owners has to be a minimum of 62 years old and the home needs to be your primary residence. You can receive your reverse mortgage (HECM) loan proceeds in three different ways: the full amount at closing, a line of credit, or guaranteed monthly payments for as long as you live in the home.
HUD insured reverse mortgages were created by Congress in 1988 and must conform to strict underwriting guidelines created by the FHA.
Reverse mortgages are rapidly becoming a highly recognized and powerful retirement tool. Here are just a few benefits.
Reverse Mortgage Support specializes in working exclusively with home owners and their families who are seeking to secure the best reverse mortgage (HECM) loan possible. We have developed the free reverse mortgage calculator on this site to help get you started and determine if a reverse mortgage is right for you.
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Our primary purpose is to help you make an informed decision in obtaining the best reverse mortgage that is available. With that in mind, we have provided information on this website from the respected resources indicated below.
While we obviously can not include all of the information available from these organizations, we are fully familiar with the necessary requirements to help you meet your goal of successfully obtaining a reverse mortgage loan (HECM).