LOANS

Unlock Your Home’s Potential with a Reverse Mortgage

Turn Your Home Equity into Monthly Income — Stay in the Home You Love

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Tax-Free Cash to Help You Retire

Access the equity in your home without selling it or moving out (consult a tax advisor for more information).

No Monthly Mortgage Payments

You remain the owner of your home while enjoying financial freedom.

Live Comfortably in Retirement

Use the funds however you like — from healthcare to travel to home improvements.

What Is a Reverse Mortgage?

A Home Equity Conversion Mortgage (HECM) is a loan available to homeowners aged 62 and older that allows you to convert part of your home equity into cash. Unlike a traditional mortgage, you don’t make monthly payments. Instead, the loan is repaid when you sell your home, move out, or pass away.

Is a Reverse Mortgage Right for You?

You may qualify if:

You are 62 years or older
You own your home outright or have significant equity
The home is your primary residence

Frequently Asked Questions

1. Will I still own my home?

Yes. You retain ownership and can live in your home as long as it’s your primary residence.

2. What happens when I pass away?

After the last borrower or eligible non-borrowing spouse passes away, heirs have several options:

Sell the home and retain any remaining equity
Repay the loan and retain ownership of the home
Buy back the home at 95% of its value
If the heirs do not wish to retain the property, the servicer may take responsibility for selling the property.
Borrowers/heirs won't owe more than the home value.

3. What if I have an existing mortgage?

You may qualify for a reverse mortgage even if you still owe money on an existing mortgage. However, the reverse mortgage must be in first lien position, so the existing first mortgage would need to be paid off. If there is enough equity available, the reverse mortgage can be used to pay off your loan.

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These materials are not from HUD or FHA and were not approved by any government agency

Subject to credit approval.

NMLS ID #649058. Mortgages available in Arizona, California, Colorado, Florida, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Tennessee, Texas, Utah and Washington.

Home Equity Conversion Mortgages (HECM) are available in all states other than North Dakota, West Virginia, North Caroline, Rhode Island, New Hampshire, Vermont, Maine, and Alaska.

Reverse mortgage borrower(s) must occupy home as primary residence and remain current on property taxes, homeowner’s insurance, and any Homeowners Association fees. The borrower(s) must maintain the property to meet HUD standards or risk default. The loan will become due and payable when the last borrower or eligible non-borrowing surviving spouse dies, sells the home, conveys title to someone else, permanently moves out, does not reside in the property for 12 months, defaults on property taxes, homeowner’s insurance payments, neglects home maintenance, or does not otherwise comply with the loan terms. The subject property may be subject to a tax lien, other encumbrance, or foreclosure in the event of default. The lender may charge an origination fee, mortgage insurance premium, closing costs, and servicing fees, which will be added to the balance of the loan. Interest and fees accumulate over time and will reduce equity. The balance of the loan grows over time and the lender will charge interest on the balance. Interest may not be tax-deductible until the loan is partially or fully repaid. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. This information is intended to be general and educational in nature and should not be construed as financial advice. Consult your financial advisor before implementing financial strategies for your retirement.

Borrowers located in Washington: If you are considering a reverse mortgage, specifically a Home Equity Conversion Mortgage (HECM), you must receive counseling from an independent, third-party, HUD-approved reverse mortgage counselor.

FHA Sponsor ID 171-0100-241

Plaza Fees:

Doc Prep: $150.00
Doc Prep (TX only): $250.00
Trust Review (if applicable): $250.00
HOA Contract Review (if applicable): $150.00