Explore by category
How does a HECM work?
A HECM eliminates your monthly mortgage payment, if applicable, and loans you a portion of your home equity with no monthly mortgage payments required.* You can receive these funds via a lump sum, monthly payouts, a line of credit, or a mix of all three. Learn More
*The borrower must meet all loan obligations, including living in the property as the principal residence, maintaining the home, and paying property charges, including property taxes, fees, hazard insurance. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.
Disclaimer
This article is intended for general informational and educational purposes only and should not be construed as financial or tax advice. For tax advice, please consult a tax professional. For more information about whether a reverse mortgage fits into your retirement strategy, you should consult your financial advisor.
