To be eligible for a FHA HECM, the FHA requires that you be a homeowner 62 years of age or older, own your home outright, or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan, have the financial resources to pay ongoing property charges including taxes and insurance, and you must live in the home. You are also required to receive consumer information free or at very low cost from a HECM counselor prior to obtaining the loan. You can find a HECM counselor online or by phoning (800) 569-4287.
An informational website provided by Reverse Mortgage Funding LLC, NMLS ID: #1019941 ( ).
Reverse Mortgage Funding LLC (“RMF”) is headquartered at 1455 Broad Street, 2nd Floor, Bloomfield, NJ 07003, 1-888-494-0882.
Not all products and options are available in all states. Terms subject to change without notice. This is not a loan commitment. All loans subject to approval.
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