For eligible homeowners 62 and older, a HECM reverse mortgage may allow access to a portion of home equity without required monthly principal and interest payments while program obligations continue to be met, including taxes, insurance, occupancy, and property maintenance. Terms, loan amounts, and counseling requirements vary by program.
A reverse mortgage allows eligible homeowners to borrow against home equity without required monthly principal and interest payments, while continuing to meet taxes, insurance, occupancy, and property-maintenance obligations. The loan balance grows over time and is typically repaid when the home is sold, the borrower permanently moves out, or another maturity event occurs.
The most common program is the HECM (Home Equity Conversion Mortgage), insured by FHA. For high-value properties, proprietary jumbo reverse mortgages are available without FHA loan limits. Both allow you to receive proceeds as a lump sum, line of credit, monthly payments, or a combination.
All HECM borrowers are required to complete a HUD-approved independent counseling session before the loan closes. This is a federal consumer protection — not a sales pitch. We'll connect you with an approved counselor and walk you through what to expect.
All HECM borrowers must complete a counseling session with a HUD-approved independent counselor. We provide referrals and help you schedule it. Typically 60–90 minutes.
Alex calculates your Principal Limit — the maximum amount you can access — based on your age, home value, and current rates. We compare HECM vs. proprietary programs.
Lump sum, line of credit, monthly tenure payments, or a combination. We model each option so you can choose based on your income and cash flow needs.
A licensed appraiser determines current market value. FHA appraisal standards apply for HECM. Proprietary programs use their own appraisal requirements.
After a mandatory 3-day right of rescission, funds are disbursed per your elected structure. You remain on title. You continue to own your home.
How you receive proceeds — and which program fits your property value — shapes the entire picture. Here's what's available.
A growing line of credit you draw from as needed. Unused funds grow over time at the same rate as the loan — one of the most powerful features of the HECM program.
A fixed-rate option that distributes your maximum eligible amount at closing. Best when you have a specific use — paying off an existing mortgage, medical expenses, or major home improvement.
Guaranteed monthly payments for as long as you occupy the home as your primary residence. Supplements Social Security or pension income indefinitely.
Buy a new primary residence using a reverse mortgage. Purchase a home closer to family or in a more accessible location — with no ongoing monthly mortgage payment.
For homes valued above the FHA HECM limit ($1,249,125). Proprietary programs allow higher loan amounts with no FHA insurance premium — and often a larger principal limit for high-value properties.
Many borrowers elect a partial lump sum (to pay off an existing mortgage) plus a line of credit for future use. We model the combination that best fits your specific situation.
Important disclosure: Reverse mortgages are complex financial products. All HECM borrowers are required by federal law to complete a counseling session with a HUD-approved independent counselor before the loan can proceed. This is a consumer protection requirement — not a GT Home Lending requirement. We strongly encourage all borrowers and their family members to ask questions, review all materials, and consult with independent advisors before proceeding.
These materials are not from HUD or FHA and were not approved by HUD or a government agency. All loans subject to underwriting and lender approval. Not a commitment to lend. Reverse mortgage loan proceeds are generally tax-free, but borrowers should consult a tax advisor.
Alex reviews every file personally. Schedule a call and get direct answers.
A reverse mortgage is a major financial decision. Alex will walk you through every detail — clearly and honestly — so you and your family can make an informed choice.