A Reverse Mortgage is a special type of mortgage that enables homeowners aged 62 years or older to tap into the equity they have accumulated in their homes. The borrower can continue to occupy the home as their primary residence. The borrower is still responsible for paying the taxes and insurance.
The type of loan program we offer is called The Home Equity Conversion Mortgage (HECM).
This mortgage program is available from HUD-approved lending institutions and is insured under the government’s Federal Housing Administration (FHA) insurance program. As such, it is subject to FHA maximum loan amounts in each particular area.
This program offers unique features and options for the homeowner, and the professionals at The Mortgage House are pioneers in the Reverse Mortgage field, highly experienced and qualified to assist seniors. The Mortgage House is also a long standing member of the National Reverse Mortgage Lenders Association (NRMLA): www.nrmlaonline.org.