Reverse Mortgage
Access your home equity with a reverse!*
A reverse mortgage is a financial product primarily designed for homeowners 62 years and older to convert a portion of their home equity into cash while retaining ownership of the property.
Program Requirements
Borrower must be 62 years or older (55 for certain programs)
Monthly payments are optional
No minimum FICO score
Occupy the property as your primary residence
Not be delinquent on any federal debt
How Repayment Works
Reverse/HECM is a non-recourse mortgage loan
Does not need to be repaid until all borrowers pass away or leave the property
No prepayment penalty! Can be repaid through the sale of the property or other assets, such as proceeds from a life insurance policy or a loan refinance
Once the loan is repaid, any remaining equity belongs to the homeowners or their heirs
Family members may obtain a short pay off for 95% of the current home value with a post death transfer
Eligible Property Types
Single family residence
2-4 unit properties
HUD/FHA approved condominiums
Manufactured homes that meet FHA standards
01
Checkup
A 15-minute conversation
02
Diagnosis
Programs matched to you
03
Prescription
We handle the paperwork
04
Closing
Keys or savings, delivered
People Over Profit.
You can buy a home. We can help.
Doc values people over profit, even though the best things in life come with a fair price. Call to learn more about how these loan programs can help you qualify.
Call (917) 417-5189
Prefer email? kdocteur@unitedmortgage.com