The Home Equity Conversion Mortgage (HECM) is a safe and secure reverse mortgage program that is insured by the Federal Housing Administration's (FHA). A HECM allows retirees to access and leverage the equity in their home to maintain a balanced portfolio through their retirement. Those 62 and older can choose how they want to withdraw their funds, whether that be a fixed monthly amount, a line of credit, a lump sum, or a combination!
Expand your business by educating your borrowers on the many use cases a HECM can provide.
Key Borrower Benefits
- Adjustable rates allow borrowers to access funds as a lump sum, growing line of credit, monthly advances, or they can combine and customize using any or all of the three options
- Fixed rate options with all funds taken as a lump sum at close
- Allows borrowers to age in place
- No monthly mortgage payment required (but the borrower is still responsible for taxes, HOI, and HOA dues)
- Allows borrowers to draw on home equity during time-of-market turmoil which can reduce strain on their portfolio and increase the likelihood of recovery with market improvements
- Non-recourse loan
CALCULATE A HECM LOAN
Build a HECM scenario
Run an unlimited number of scenarios to discover how a reverse mortgage can be the financial solution your client needs.
Run a HECM Calculation
Applying Real Life Peace of Mind with the FHA HECM Program
Many retirees are finding it hard to envision how to fund their retirement on a fixed income. Thankfully, with Smartfi Home Loans, LLC, retirees 62 years-of-age and older can now realize:
- Financial security
- Adequate cash flow
- A healthy portfolio
- A means to meet long-term care needs
- Ability to purchase a second home
- The freedom to enjoy retirement