Our Reverse Mortgage Rates Are Low & Our Process is Quick & Painless
A reverse mortgage is a loan for seniors age 62 and older. HECM reverse mortgage loans are insured by the Federal Housing Administration (FHA) and allow homeowners to convert their home equity into cash with no monthly mortgage payments.
While most reverse mortgages are insured by the Federal Housing Administration (FHA) through its Home Equity Conversion Mortgage (HECM) program, there are also a rising number of non-FHA reverse mortgages known as proprietary or jumbo reverse mortgages starting at age 55.
A HomeSafe Reverse Second Mortgage is a financial product designed for homeowners aged 55 and older who already have a primary mortgage and are seeking additional liquidity without selling their home or making monthly payments on the borrowed amount. This specialized reverse mortgage acts as a second lien on the property, enabling borrowers to access a portion of their home equity.
Key features:
- Second lien structure: It works alongside an existing primary mortgage.
- No monthly payments required: The loan balance, including interest, is repaid when the borrower sells the home, moves out permanently, or passes away.
- Age and equity requirements: Eligibility is based on age (usually 55+) and the amount of available home equity.
- Non-recourse loan: Borrowers or heirs will never owe more than the home’s value at the time of repayment.
This product can help homeowners with significant equity supplement their income or meet financial goals while retaining their primary mortgage
Among those non-FHA reverse mortgages, the programs offering loan amounts higher than the FHA's lending limit typically are referred to as "jumbos." Like jumbo programs in the forward mortgage market, reverse mortgage jumbos typically extend more borrowing potential to homeowners in that their lending limits exceed the current set by FHA.
Jumbo reverse mortgages are available to qualifying homeowners who have home values generally higher than the average HECM loan amount. Many jumbo reverse mortgages are held by homeowners in California and other areas where home values tend to trend higher than the national average.
We’re here to make the reverse mortgage process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE Reverse Mortgage Qualifier.
We’ll help you clearly see differences between reverse mortgage options, allowing you to choose the right one for you.
The Reverse Mortgage Process
Here’s how our reverse mortgage process works:
- Complete our simple Reverse Mortgage Qualifier
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates and terms
- Choose the offer that best fits your needs