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HECM (Home Equity Conversion Mortgage)

Welcome to the ONLY mortgage specifically designed for those 62 and older, where YOU control your monthly mortgage payment!  Whether looking to purchase your dream home, or refinance your existing home, learn how the HECM empowers you to be in control of your financial future!

What is a HECM?

A Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, was created over 25 years ago to help borrowers age 62 and older convert a portion of their home equity into tax-free money. HECMs are insured by the Federal Housing Administration (FHA) and allow seniors to stay in their home and achieve retirement security. Department of Housing and Urban Development (HUD) rules help ensure the financial security of the HECM program and provide additional safeguards for borrowers.

How Does It Work?

A HECM allows you to convert a portion of the equity in your home into cash. You will continue to live in your home, retain ownership and will not be required to make any monthly mortgage payments during the loan period. However, unlike a traditional home equity loan or second mortgage, you do not have to repay the HECM loan until you no longer use the home as your principal residence or fail to meet the obligations of the mortgage. You will be required to pay for property taxes, home insurance and home maintenance.

The Power of Freedom

Meeting Today’s Retirement Needs
Whether you need additional monthly income, help paying for medical or other expenses, concerned about paying your mortgage well into retirement, or maybe you want access to a line of credit…we can help!  The HECM is the most flexible mortgage available ONLY to those 62 and older, and we see clients leveraging the HECM to meet retirement needs both today, and in planning for tomorrow! 


Longevity in Portfolio Management

  • Line of credit growth for use in future years
  • Offset withdrawal of assets in down markets
  • Immediate, flexible funding source vs. liquidating accounts with tax implications

Optimize Mortgage in Retirement

  • HECM Rate & Term Refinance into most flexible mortgage
  • Control mortgage payments, or make no make the choice and are in control
  • Fund home repairs, home improvement, and home modification

Healthcare & Legacy

  • Fund medical expenses
  • Pay for needed insurance (long-term care, life insurance, Medicare supplement, end of life)
  • Pay for insurance to secure legacy (2nd to die policy with LTC rider, term policy, etc


Right Sizing Purchase

  • Upsize, downsize, or help settle a divorce
  • Afford the home you want, in the location you desire, with the conveniences you expect
  • Preserve portfolio and keep assets invested

Sandwich Generation

  • Help solve parents’ income needs in retirement, slow or eliminate subsidizing Mom and Dad
  • Keep retirement investing on track
  • Save for kids’ education and future


The Power of Choice

The most popular mortgage is the 30-year fixed rate. Many people refinanced into a 30-year fixed rate in their 50’s, 60’s or even 70’s and will be making a mortgage payment long into retirement. Being forced to pay a mortgage well into your 80’s, 90’s, or even 100’s can have a negative financial impact on your retirement and legacy. It can also negatively impact your ability to live in your current home, and have peace of mind in retirement.

There are 3 main challenges you should consider when utilizing a 30-year fixed rate mortgage:

Challenge 1: The loss of income when you retire.
Challenge 2: Living or healthcare expenses that stress income and savings.
Challenge 3: Passing of a spouse or loved one, and inherent loss of income.

All of these events can impact your ability to afford a mortgage payment for all 30 years.

The Power of Now

There will be more medical advances from now to 2026 than in the past 100 years. Truly amazing! As technology accelerates advances in medicine, we will see dramatic progress in our ability to live longer, healthier lives. And these advances will happen in our lifetime!

If you desire to live in your home, opening the HECM as early as possible may be the best option. While you may have little or no need for a HECM today, opening your Home Equity Conversion Mortgage NOW will help lock in your benefit and allow the HECM Line of Credit (LOC) to grow.

The Power of NOW, and the cost of waiting with Line of Credit (LOC) growth.

The graph below provides examples of opening the HECM Line of Credit at age 65 versus waiting until age 75.The green (solid) line below depicts opening the HECM Line of Credit at age 65 with an initial LOC of $186,400. In 10 years (age 75) the HECM LOC would have grown to approximately $342,000, and in 20 years (age 85) approximately $626,000!The orange (dashed) line below illustrates opening the HECM Line of Credit at age 75 with an initial LOC of $235,000. Opening at age 65 vs. waiting to age 75 results in approximately $107,000 MORE in available equity at age 75, and approximately $256,000 MORE in available equity at age 85! The Power of Now!



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