Resources Library

Browse on-demand resources and strategies designed to help your clients improve retirement with home equity.

CLIENT OPPORTUNITY ASSESSMENT

Nine simple questions to help you and your client evaluate if a reverse mortgage may be right for them.

Download Worksheet
WEBINAR

Can Home Equity Help Achieve Retirement Goals?

November 6, 2024 | 2:00PM EST

Usage Cases

GOAL
Pay for grandchildren’s college expenses.
BACKGROUND

Name: Charlene K.

Age: 72

Home Value: $650,000

Potential Loan Amount: $255,450

SOLUTION

A reverse mortgage line of credit withdrawing $36,000 per year for 7 years* while retaining home equity.

GOAL
To have income tax-free retirement funds.
BACKGROUND

Name: Martin S.

Age: 62

Home Value: $800,000

Potential Loan Amount: $267,200

Retirement Savings: $1,300,000

SOLUTION

A reverse mortgage line of credit on his home to pay the taxes on his Roth conversions, allowing for tax-free growth* and distributions for the rest of his life. His heirs will inherit the Roth income tax-free as well.

GOAL
To maximize Social Security benefits.
BACKGROUND

Name: Sarah S.

Age: 66

Home Value: $525,000

Potential Loan Amount: $190,575

SOLUTION

A reverse mortgage line-of-credit to supplement her cash flow, allowing her to delay taking Social Security and maximize the benefit.

Stay up to date

Seniors Seem More Receptive to Roommates as They T…

Article
Boston radio station podcast notices phenomenon of older Americans and younger roommates cohabitating.
Read

FOA Given ‘Good’ Reverse Mortgage Originator R…

Article
Generally positive trajectory in a recent earnings report and a similar rating for a competitor in the…
Read

Why a Reverse Mortgage Could be Viable in ‘Gray …

Article
Housing is an important issue to sort out for divorcing seniors. Eliminating a mortgage payment and managing…
Read

Financial Advisors Guide to Reverse Mortgages…

Guide
As one of your clients’ most trusted resources, you play an essential role in providing clear direction…
Download

10 Things You Should Know About Reverse Mortgages…

Article
Your clients have multiple ways to tap into their home equity.
Read

The biggest reverse mortgage marketing moves in 20…

Article
Consolidating its two core brands — Finance of America Reverse (FAR) and AAG — under the singular Finance of…
Read

F&G’s newly released Retirement Survey…

Article
Half of the 50-and-over age group are thinking of reentering the workforce or pushing back their retirement…
Read

Frequently Asked Questions

Yes. The borrower still retains ownership of the home and may sell it at any time with no prepayment penalties. The home is simply secured with a lien similar to a traditional mortgage or home equity line of credit.

There is never a required principal or interest payment during the life of a reverse mortgage loan. Homeowners are still required to pay property-related expenses, including taxes, insurance, and HOA fees.

Generally, the loan balance is due after the last borrower permanently moves from the home or passes away.

The borrower’s heirs may sell the home and keep any remaining equity if they wish, or refinance with a traditional mortgage if they want to retain the property. In the event the loan exceeds the value of the property, the heirs can choose to walk away via foreclosure with no responsibility to the remaining balance.

Yes, reverse mortgages are non-recourse loans, which means the lender can only look to the subject property for satisfaction of the mortgage lien. The borrower and/or heirs are never personally liable for satisfaction of the reverse mortgage.

FAR’s proprietary products can offer borrowers loan amounts up to $4 million.

Yes. The home can be in a trust, revocable or irrevocable, provided the trust meets FHA trust guidelines.

This amount is generally based on the home’s value, prevailing interest rates, and the age of the youngest borrower or eligible non-borrowing spouse.

Reverse mortgages are only available on the borrower’s primary residence, which can be a single-family home or up to a four-unit dwelling.

However, there are no restrictions on the use of reverse mortgage proceeds. As long as borrowers continue to meet the occupancy requirements of the loan, they may use their proceeds as part of a secondary property purchase.