By applying fresh and progressive thinking, we’re delivering new reverse mortgage products as well as traditional reverse mortgage offerings. It’s all about giving you more choices that better fit your needs.
Get flexibility and cost certainty in one reverse mortgage with HECM Choice.
Now there’s HECM Choice: a Home Equity Conversion Mortgage (HECM) with an interest rate that will never change over the life of the loan—and a choice of payment plans, so you can choose the one that works best for you.
You get the best of both worlds:
The assurance of an interest rate that will never change
The payment plan that best fits your individual needs
You decide—after all, it is your Choice.
Reverse Mortgage Funding offers a full array of HECM reverse mortgages, plus the expertise to help you understand and navigate the entire process.
With an interest rate established at the loan closing, and fixed for the life of the loan, this HECM provides homeowners with peace of mind. As is the case with HECM Choice, you’ll always know exactly how much interest is accruing on your reverse mortgage. However, with a HECM Fixed Rate you are required to take all of your money at closing in one lump sum. This may be a desirable choice if you’re using your reverse mortgage to pay off a larger existing mortgage or cover other immediate needs.
The interest rate on this HECM fluctuates on a monthly basis, but it also offers more options for homeowners. You can choose a lump sum draw, line of credit, monthly payment, or combination of these. For example, you might choose to take some of your cash upfront and put the rest in a line of credit so it’s available when and if you need it. You only accrue interest on the money that you actually take.
This reverse mortgage helps you purchase a new home that will better fit your future needs by taking out a reverse mortgage on that home. Both the purchase and the reverse mortgage are handled in one transaction.