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Reverse Mortgage 101

New to the HECM reverse mortgage? No problem! The articles linked below cover the basics, common myths and misconceptions, the history of the reverse mortgage, common terms, and case studies based on real-world scenarios.

HECM Reverse Mortgage 101

You’ve probably heard the rumors, but what is a reverse mortgage really? We’ll get you up to speed on the most important reverse mortgage basics here.

Mystified by a reverse mortgage? We’ll cover how a HECM reverse mortgage really works. Learn the stuff most lenders don’t bother explaining to you.

The reverse mortgage is a highly misunderstood product. We’ll address the most common myths and misconceptions that you may have heard.

The reverse mortgage has been around longer than you may realize. Learn the history of the reverse mortgage and how it evolved into what we know today.

The reverse mortgage comes with a vocabulary all it’s own. Learn the most common terms and meanings with our reverse mortgage glossary.

The HECM reverse mortgage can impact your financial well being in a positive way. Learn how with these case studies based on real-world scenarios.

  • What is a Home Equity Conversion Loan?

    What is a Home Equity Conversion Loan? How Does it Work?

    A home equity conversion loan enables seniors to tap into their home’s equity and use it to improve their retirement lifestyle and financial security. You’ve probably seen the ads with celebrity spokespeople extolling the benefits of a home equity conversion …
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  • Home Equity Conversion Mortgage (HECM)

    How a Home Equity Conversion Mortgage (HECM) Works

    A home equity conversion mortgage is a unique home loan product that offers seniors the ability to tap into home equity without giving up ownership of the home or taking on a mortgage payment. What if you could tap into your home’s equity without giving up ownership …
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  • Reverse Mortgage Purchase

    Reverse Mortgage Purchase Loan: Buy a Home With No Mortgage Payment

    A reverse mortgage purchase loan enables seniors to finance a home purchase with no mortgage payment. Sound crazy? Read on and learn about one of the best kept secrets in the mortgage industry. Very few seniors or realtors even know about this program. But if you’re …
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  • What is a HECM for Purchase

    What is a HECM for Purchase? The Straight Deal From an Industry Expert

    What is a HECM for purchase and how does it work? Great question! The HECM for purchase is one of the best kept secrets in the mortgage lending industry. The HECM enables seniors to finance the purchase of a home without a mortgage payment. Sound crazy? Read on! I will …
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  • What is a HECM Loan?

    What is a HECM Loan? The Good and Bad From an Industry Expert

    You’ve heard of them and seen the TV commercials with Henry Winkler and Tom Selleck. You’re intrigued about these HECM things, but they sound almost too good to be true. So, what is a HECM loan, exactly? How does it work? Glad you asked! I’m an experienced …
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  • Minimum Credit Score for Reverse Mortgage

    What is the Minimum Credit Score for Reverse Mortgage Financing?

    What is the minimum credit score for reverse mortgage financing? Can I qualify with bad credit? The answers to these questions may surprise you! In the traditional “forward” mortgage world, credit scores are extremely important. They directly impact what …
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  • Reverse Mortgage Cons

    The Top 3 Reverse Mortgage Cons According to an Industry Insider

    For the right candidate, a HECM reverse mortgage is a pretty phenomenal financial tool. I mean, what other mortgage product allows you to make zero mortgage payments? It probably sounds too good to be true, right? Like anything, it can’t all be upside. There has to be …
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  • Reverse Mortgage Explanation

    A Simple Reverse Mortgage Explanation From an Industry Expert

    You’ve seen the TV commercials with celebrities extolling the benefits of a reverse mortgage. It sounds good, but you need more information, right? You need a simple reverse mortgage explanation about how a reverse mortgage really works. Well, you’re in the …
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  • Reverse Mortgage for Purchase

    Reverse Mortgage for Purchase: How to Finance a Home Purchase With No Mortg…

    If you’re at least 62, the reverse mortgage for purchase enables you to finance a home purchase with no mortgage payment. Sound crazy? Read on and I’ll explain! This is a fantastic program and not many people even know it exists. Before we dig into how a reverse …
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  • Reverse Mortgage Maximum Loan Amount

    What is the Reverse Mortgage Maximum Loan Amount?

    What is the reverse mortgage maximum loan amount? It may surprise you, but there is no maximum loan amount. The reverse mortgage is completely open-ended as long as you meet your program obligations. If this sounds strange, hang with me and I will explain. But first, let me …
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  • Reverse Mortgage for Purchase Pros and Cons

    Reverse Mortgage for Purchase Pros and Cons: An Honest Assessment

    What are some reverse mortgage for purchase pros and cons? Great question! The reverse mortgage is a great product, but like any financial tool, it’s not always the perfect solution for everybody. Potential pros and cons and whether or not it’s right for you …
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  • HECM Purchase Explained

    The HECM Purchase Explained

    If you’re looking to have the HECM purchase explained in an easy-to-understand way, you’re in the right place. If you’re at least 62 (or married to somebody who is), the HECM for purchase program could be a really great way to buy a home. The HECM allows …
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  • What is the Reverse Mortgage Age Requirement?

    What is the Reverse Mortgage Age Requirement?

    So, what is the reverse mortgage age requirement exactly? Great question! The reverse mortgage does have an age requirement, which I’ll cover shortly. But first, let’s make sure we’re both on the same page about what a reverse mortgage actually is and how …
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  • Reverse Mortgage Amortization Schedule

    Reverse Mortgage Amortization Schedule: What It Is and Why It’s Impor…

    A reverse mortgage amortization schedule is an important document that details how a reverse mortgage changes over time. Most reverse mortgage borrowers are concerned mainly with how much they can get at the start of the loan. Yes, that is definitely important! However, …
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  • How Much Equity is Required for a Reverse Mortgage

    How Much Equity is Required for a Reverse Mortgage?

    How much equity is required for a reverse mortgage? Well, that depends. And believe me, I’m not attempting to be trite by saying that. There are a few different factors that determine how much equity is needed for a reverse mortgage to be workable. Before I explain …
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