Which Reverse Mortgage is Right for you?

Reverse Mortgage

Which Reverse Mortgage is Right for you?

Over 1 million Americans have utilized a reverse mortgage for things such as home remodeling, taking a dream vacation, spending more time with friends, and helping a grandchild with the cost of college.  A reverse mortgage is specifically designed for older adults and provides the unique advantage of accessing your home’s equity. There are many benefits to a reverse mortgage, including not having to pay a monthly mortgage payment. You will only need to follow the loan’s terms and pay your other payment obligations such as property taxes, homeowners insurance, and maintenance.  

Experience new possibilities!

Over 1 million Americans have utilized a reverse mortgage for things such as home remodeling, taking a dream vacation, spending more time with friends, and helping a grandchild with the cost of college.  A reverse mortgage is specifically designed for older adults and provides the unique advantage of accessing your home’s equity. 

There are many benefits to a reverse mortgage, including not having to pay a monthly mortgage payment. You will only need to follow the loan’s terms and pay your other payment obligations such as property taxes, homeowners insurance, and maintenance.

Experience new possibilities!

Reverse Mortgage Loan Options

EquityPower

EquityPower Reverse Mortgage

EquityPower Reverse Mortgage

EquityPower is Nationwide Equities’ private reverse mortgage loan program that allows homeowners to make the most of their home equity. EquityPower offers significant advantages over the HECM, including higher loan amounts, lower costs (NO MIP!) and greater flexibility. Whether your goals include accessing more of your hard-earned money or reducing monthly expenses, an EquityPower reverse mortgage may be the solution you’ve been looking for. Click here to learn more.

Home Equity Conversion Mortgage (HECM)

Home Equity Conversion Mortgage (HECM)

A  HECM (Home Equity Conversion Mortgage) is a loan that enables homeowners, who are at least 62 years old, to convert part of their home equity into cash. With a HECM reverse mortgage, borrowers will continue to live in and own the home, except no monthly mortgage payments will be required! However, just like a traditional loan, borrowers are still required to pay their property taxes, homeowners insurance, home maintenance, and comply with all the loan terms.* Click here to learn more.

Reverse Mortgage Refinance

Reverse Mortgage Refinance

Just like a traditional mortgage, reverse mortgage borrowers are able to refinance their reverse mortgage. There are several reasons why borrowers may want to refinance their reverse mortgage. For instance, if interest rates have dropped, the home as appreciated in value, or lending limits have increased since the last closing, it may be beneficial for the borrower to refinance. There may have also been changes to the program that wasn’t available to past borrowers. Click here to learn more.

Reverse Mortgage for Purchase

Reverse Mortgage for Purchase

Did you know you can purchase your next home with a reverse mortgage? A Reverse Mortgage for Purchase enables seniors to purchase a new primary residence and obtain a reverse mortgage within a single transaction. This allows buyers to combine their reverse mortgage proceeds with either the proceeds from their current home sale or other assets, to purchase their new home and have no required monthly mortgage payments on the new property! They must still pay their property taxes, homeowners insurance, and maintain the condition of the home. Click here to learn more.

*Failure to pay taxes, insurance, maintenance, and satisfy all other loan terms will cause the loan to become due and payable and may lead to foreclosure. 

Find a Loan Officer

We will connect you with a licensed loan officer in your area. 

Eligible Calculator

See which reverse mortgage programs you’re eligible for. 

Read FAQ's

We’ve addressed the most common questions about reverse mortgages.