Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM), and is only available through an FHA-approved lender. If you are a homeowner age 62 or older and have paid off your mortgage or paid down a considerable amount, and are currently living in the home, you may participate in FHA's HECM program. The HECM is FHA's reverse mortgage program that enables you to withdraw a portion of your home's equity. With a FHA Insured mortgage, the borrower is responsible for paying the premiums of the insurance and the insurance is on behalf of the lender. HighTechLending Inc. is not affiliated with or acting on behalf of or at the direction of the FHA or Federal Government.
For homeowners with higher home values, there may be a way to access more equity compared to the traditional HECM FHA Insured reverse mortgage. These proprietary loans are still non-recourse loans, like the HECM FHA Insured product. There are no mortgage insurance fees involved with these products. Available for home purchase!
Fresno /Clovis (559) 472-0446
San Luis Obispo County (805) 423-3112
Katie B. Austin NMLS ID 233634
HighTechLending Inc. NMLS ID 7147
Clovis, California, United States
Monday - Friday: 9am - 5pm
Saturday: By appointment
Important: Reverse Mortgages are neither "endorsed" nor "approved" by the Federal Government. The FHA (Federal Housing Administration) provides certain insurance benefits for lenders and borrowers in connection with the lender’s HECM loans; the FHA does not make or originate loans. The borrower is responsible for paying the premiums of that insurance and the insurance is on behalf of the lender. It is strongly advised that you consult with your family and / or trusted financial planner before entering into any mortgage loan. HighTechLending Inc. is not affiliated with or acting on behalf of or at the direction of the FHA or the Federal Government.
Copyright © 2018 Katie B. Austin Reverse Mortgage Consultant - All Rights Reserved. HighTechLending, Inc., NMLS #7147 Licensed by the Department of Business Oversight under A California Residential Mortgage Lending Act #4130937. NMLS #7147. Licensed in AZ #0912577, CA #4130937, CO #7147, FL #7147, HI #7147, IL #MD-6761112, MD #21762, NC #L-165611, NJ #7147,NM #7147, NV #4517, GA #5300 OR #ML4386, PA #4982, SC #7147, TX #7147, UT #8874117, VA #MC-5962, WA #7147. 2030 Main Street, Suite #350, Irvine, CA 92614. NMLS Consumer Access: www.nmlsconsumeraccess.org