Frequently Asked Questions
do I qualify for?
- At least one homeowner must be 62 years or older
- The home must be owned and your primary residence
- Minimal income and credit requirements
How do I access money from my HECM Credit Line?
- A Growing Credit Line: Withdraw cash as needed
- A Monthly Supplement: Increase your current income
- All at once: As a lump sum amount
- Or a combination of the above
Do I still pay my property taxes
Do I still own my home?
Can I make payments on my HECM Credit Line balance?
- Interest only
- Principal & Interest
- or, NO Payment at all
I've heared the costs are too high?
Can I purchase a home with a HECM?
Will I owe more than the value of my home after I pass away?
NO: A HECM is "non recourse" loan, which means that you, your heirs or your estate cannot be required to repay more than the current appraised value of your home.
These are just a few answers to some commonly asked questions. If you have questions that aren't listed above,
please call us at (800) 822-1190 or click button below!