Want to Retire in the Home of your Dreams?

Elderly couple standing in front of house

The Home Equity Conversion Mortgage (HECM) is commonly known as a “Reverse Mortgage.”

HECM loans were created in the 1980’s as a government-insured loan to help homeowners 62 and older convert some of their home equity into tax-free cash*. Recent changes to the program have made it a more effective way for eligible homeowners to gain financial flexibility while maintaining ownership of their home.

Possible Benefits of a Reverse Mortgage

  • Borrowers continue to live in and OWN their home (primary residence only) so long as they continue to meet all terms and conditions of the loan
  • There are no monthly mortgage payments
  • Note: Borrowers must continue to make monthly/periodic property tax, insurance and maintenance payments, and may risk default if payments are not made.
  • Might be appropriate for borrowers who are downsizing, moving to a one-level home, require handicap access, want to be closer to family or are moving to a senior community.

*Ideal Lending LLC is not a tax or financial advisor. Consult a licensed tax professional and appropriate government agencies regarding deductibility of interest and other effects on taxes. Ideal Lending LLC is not acting on behalf of or at the direction of HUD/FHA or the federal government. Home must be primary residence. Other requirements and conditions may apply. Please contact your loan representative for more information. Products not available in all areas.

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