PROGRAM DETAILS
- No payment option available*
- HECMs are federally insured.
- Same products, limits, LTVs, and rates as traditional mortgages
- Excellent planning tool to fund retirement
THE FINE PRINT
- Must be 62 years old, or older
- Applies only to owner-occupied, primary residences
- Mandatory HUD counseling
- The homeowner is still responsible for property taxes, homeowners insurance, upkeep and any relevant HOA fees.