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.
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 reverse mortgage calculator? Why do you need one? A reverse mortgage calculator is useful for estimating how much you can get from a reverse mortgage. But if you want accurate results, ... Read More >
- A reverse mortgage is a great loan product, but it's not the right solution for everybody. Is it right (or wrong) for you? We'll cover the reverse mortgage pros and cons to help you ... Read More >
- The reverse mortgage is a fantastic product, but it's not the right solution for everybody. Is it right (or wrong) for you? In this article, we'll cover key reverse mortgage information to help you ... Read More >
- So, what is the current principal limit on a reverse mortgage? It depends! The fact that you're asking this question demonstrates an understanding on your part that the principal limit is not a set ... Read More >
- 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 ... Read More >
- 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. ... Read More >
- 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 ... Read More >
- 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 ... Read More >
- 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 ... Read More >
- 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 ... Read More >
- 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, ... Read More >
- 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 just need a simple reverse mortgage explanation that covers how ... Read More >
- 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 ... Read More >
- 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 ... Read More >
- 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 ... Read More >
- How much equity is required for a reverse mortgage? Well, that depends. There are a few different factors that determine the equity requirements for a reverse mortgage to be workable. A reverse mortgage is ... Read More >
- What happens when a reverse mortgage borrower dies? Great question! This is a common question asked by seniors investigating a reverse mortgage. Before we dig into the answer, let's first cover a few basics ... Read More >
- Are you looking for a free and easy-to-use reverse amortization calculator? You're definitely in the right place! MyHECM has probably one of the best reverse amortization calculators available online. If you'd like more information about ... Read More >
- This is part 2 of my article covering some of the basics about the HECM reverse mortgage. If you haven't read part 1, you can find it here. Reverse Mortgage Closing Costs Like any ... Read More >
- You've seen the TV ads or heard of friends who've gotten one, but you've never actually had the reverse mortgage explained to you. Well, you're in the right place! This article is written by an ... Read More >
- The reverse mortgage line of credit growth feature is probably one of the best aspects of the HECM reverse mortgage program. If you owe little to nothing on your home, the reverse mortgage line ... Read More >
- Reverse mortgage insurance for the HECM program is designed to protect both borrower and lender if the home isn't worth enough to settle the entire balance at the time the loan is due ... Read More >
- As crazy as it might sound, it's possible to finance a home purchase with no mortgage payment. How? With a purchase money reverse mortgage. Very few home buyers or realtors even know about this program, ... Read More >
- An FHA-insured HECM reverse mortgage is not perfect for everybody, but it can be a great financial tool for the right candidate. Unfortunately, many seniors who could benefit from a reverse mortgage never take ... Read More >