NMLS 2275047

Reverse Mortgage | Home Equity Conversion Mortgage

The Home Equity Conversion Mortgage (HECM) Reverse Mortgage is FHA’s reverse mortgage program, which allows borrowers of age 62 or older to convert a portion of their home equity into cash.

Loan Program Details

  • 62 years of age or older
  • 1-4 family home or FHA approved condo
  • Property must be borrower’s primary residence
  • Substantial equity in their home
  • Participated in HUD-approved HECM counseling
  • Borrower’s estate can never owe more than the home’s worth (non-recourse)
  • The DEED to the home stays in borrower’s name
  • You never need to make a mortgage loan payment. However, you must still pay taxes and insurance.
  • You will continue to receive benefits even if the lender defaults

We’ve made applying for a Reverse Mortgage easy. To start your loan application and get preapproved click here, to find a local loan officer click here.


Corporate Office

2424 N Federal Hwy, Suite 100
Boca Raton, FL 33431
(561) 395-6900
(888) 216-6476

NMLS 2275047

CHOICE MORTGAGE GROUP

Official Mortgage Lender of Florida Atlantic Athletics

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2424 N Federal Hwy, Suite 100 Boca Raton, FL  33431 | Phone: (561) 395-6900 Toll-Free: (888) 216-6476
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