HUD’s Federal Housing Administration (FHA) created the Home Equity Conversion Mortgage (HECM). A HECM aka Reverse Mortgage, is a federally insured loan that enables you to withdraw some of the equity in your home or use the loan proceeds to buy a new primary residence that you will occupy. Many seniors use a Reverse Mortgage to supplement social security, meet unexpected medical expenses, make home improvements and more.
- 62 years of age or older
- Property used as collateral must be the primary residence
- No delinquencies on any federal debt, suspensions, debarments, or excluded participation from FHA programs
- Completion of HECM counseling
Pacific Mortgage Center has been helping seniors stay ahead of their finances during retirement, by providing Reverse Mortgage solutions to qualifying customers.
Call us today and see how a reverse mortgage can help you live more comfortably throughout your retirement years.
Call 509-926-1755 or 800-469-0409 to speak with one of our licensed mortgage professionals or complete the quick apply form now.