Our Services
Reverse Mortgage Solutions
We offer a complete suite of reverse mortgage products to match your unique goals and financial situation.
HECM Loans
Home Equity Conversion Mortgage
The most common type of reverse mortgage, insured by the Federal Housing Administration (FHA). HECM loans allow homeowners 62+ to convert their home equity into cash without selling their home or making monthly mortgage payments.
Key Benefits
- Insured by the FHA. Lending For Living is not part of or endorsed by HUD or FHA.
- No monthly mortgage payments required
- Choose how you receive funds: lump sum, monthly payments, or line of credit
- Non-recourse loan: when the loan is repaid, you or your heirs won't owe more than the home's value at that time. Heirs who keep the home pay the loan balance or 95% of the appraised value, whichever is less. You still pay property taxes, insurance and upkeep, and live in the home.
- Stay in your home as long as it remains your primary residence
- Use funds for any purpose: medical bills, home repairs, daily living
Eligibility
- At least 62 years old
- Own your home outright or have significant equity
- Home is your primary residence
- Meet HUD financial assessment requirements
- Complete HUD-approved counseling session
Want to keep your current mortgage? Compare a HELOC with a reverse mortgage line of credit.