Home Equity Conversion Mortgage Specialists
Initial Pre-Qualifications for a
Home Equity Conversion Mortgage
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Their Home must be the homeowner’s primary residence.
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The youngest homeowner on the deed must be 62+.
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Their Home Taxes to have been paid on time.
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All Home Insurances to have been paid on time.
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The HOA fees, if applicable, have to be paid on time.
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Their Home must be well maintained and not in need ofany major repairs.
- HOME TYPE -
Use your Home Equity cash
to continue living in your home
more comfortably than thought possible.
“A financial option, often misunderstood or not considered, delivering additional cash and peace of mind for meeting many current and future financial needs and desires.”
Qualifications And Basis For Your Home Equity Conversion...
What type of home qualifies?
Single-family homes, townhomes, and FHA-approved condos. The home must be your primary residence.
What is a HECM based on?
It is based on the age of the youngest borrower (62-100) and the value of your home. We take 36 to 75% of the appraised value of your home and subtract any loan closing costs, FHA insurance, and existing mortgages (if any) to determine your available HECM loan proceeds. This calculation is determined by the Department of Housing and Urban Development (HUD).**