Legal Disclosures
We believe in full transparency. Below you'll find all regulatory notices, licensing information, and important disclosures related to our reverse mortgage services.
Calculator & Educational Disclaimer
These estimates are for educational purposes only and do not constitute a loan offer, commitment, or guarantee. Actual terms, rates, and availability depend on appraisal, credit history, property type, and current market conditions. Total Annual Loan Cost (TALC) disclosures will be provided during the formal application process. Contact us for a personalized quote.
Licensing Information
Lending For Living is a licensed mortgage lender. NMLS# 855360. You may verify our licensing status at the NMLS Consumer Access website.
Equal Housing Lender
We are an Equal Housing Lender. We do not discriminate on the basis of race, color, religion, national origin, sex, handicap, or familial status in lending, in accordance with the Fair Housing Act and the Equal Credit Opportunity Act.
Non-Recourse Protection
HECM reverse mortgages are non-recourse loans insured by the Federal Housing Administration (FHA). This means that neither you nor your heirs will ever owe more than the home is worth at the time the loan is repaid. The FHA Mortgage Insurance Premium (MIP) funds this protection.
Borrower Obligations
Reverse mortgage borrowers are required to maintain the property as their primary residence, keep current on property taxes, homeowners insurance, and any applicable homeowners association (HOA) fees. Failure to meet these obligations may result in the loan becoming due and payable.
Total Annual Loan Cost (TALC)
In accordance with Regulation Z (12 CFR 1026.33), Total Annual Loan Cost (TALC) disclosures will be provided during the formal application process. TALC rates reflect the projected annual average cost of the reverse mortgage, including all fees, interest, and mortgage insurance premiums, over varying loan durations and appreciation scenarios. These disclosures help you compare reverse mortgage costs and make an informed decision.
HUD-Approved Counseling
All HECM borrowers are required by the U.S. Department of Housing and Urban Development (HUD) to complete a counseling session with an independent, HUD-approved counselor before closing. This session ensures you understand the terms, costs, and alternatives to a reverse mortgage.
General Notices
- •This is not a commitment to lend. Terms and conditions apply.
- •Actual loan terms depend on borrower qualifications, property appraisal, and prevailing market conditions at the time of application.
- •Information on this website is for educational purposes only and should not be considered legal or financial advice.
- •Interest rates, fees, and program availability are subject to change without notice.