What is a Retirement Mortgage?
Home Equity Conversion Mortgage in Southern California
Apply now for a retirement mortgage, also known as a Home Equity Conversion Mortgage, in Southern California. It is the most common type of reverse mortgage and is backed by the Federal Housing Administration (FHA), which means the government insures the loan, providing extra protection for borrowers. This product can be used to refinance an existing mortgage or to purchase a new home.
There are various proprietary retirement mortgage products available to individuals. The Proprietary Reverse Mortgage is available to borrowers aged 55 and older in most states. It’s ideal for high-value homes, specific non-FHA-approved condominiums, or when the borrower does not meet the minimum age requirement for a HECM.
There are various proprietary retirement mortgage products available to individuals. The Proprietary Reverse Mortgage is available to borrowers aged 55 and older in most states. It’s ideal for high-value homes, specific non-FHA-approved condominiums, or when the borrower does not meet the minimum age requirement for a HECM.