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 Home Equity Conversion Mortgages
If you're at least 62 years old and own a home, you may be eligible to get cash from your home using a unique government insured program. It's called a home equity conversion loan or a reverse mortgage, and it uses the equity in your home as a source for new income.
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Money for any reason -- tax free!
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No repayment as long as you stay in your home
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FHA insured and guaranteed
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No income required, no credit check
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You keep the title
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Get your money in weeks!
Home equity conversion mortgages are insured by the Federal housing Administration (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD).
The FHA tells lenders how much they can lend you based on your age and your home's value. The program limits your loan costs and the FHA guarantees that lenders will meet their obligations.
HECMs are ideal for homeowners who are retired or no longer working and need to supplement their income. Interest rates can be fixed or adjustable and the money is nontaxable and does not interfere with Social Security or Medicare benefits. Your lender cannot take property away if you outlive your loan nor can you be forced to sell your home to pay off your loan even if the loan balance grows to exceed property value.
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MA Lic MC5083 NH Lic11773-MB CT Lic 19399 FL Lic ML0701334
Visit our new NH office at The Summit Executive Offices, Suite 109, 1134 Gibbons Highway, Wilton
(mailing address - PO Box 487 - Wilton NH 03086)
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