Reverse Mortgages

Live in Your Home With No Mortgage Payment

With a Home Equity Conversion Mortgage

Many homeowners across the nation have chosen a Home Equity Conversion Mortgage (HECM) to help them meet financial and personal goals. A HECM loan can be a smart financial option for seniors who want to tap into a portion of equity in their home to gain access to additional funds.

Funds Available, Distribution Options, Interest Rates and Costs




You must still live in the home as your primary residence, continue to pay required property
taxes, homeowners insurance, HOA fees and maintain the home according to Federal
Housing Administration requirements.

Federal Housing Administration (FHA) mortgage insurance premiums (MIP) will accrue on your loan balance. You will be charged an initial MIP at closing. The initial MIP will be 2% of the home value not to exceed $13,593. Over the life of the loan, you will be charged an annual MIP that equals .5% of the outstanding mortgage balance.

The above advertisement has not been approved or endorsed by FHA or any other government agency.

Talk to us!

We’re here to help you every step of the way. Simply fill out our contact form and one of our Expert Loan Officers will get back to you quickly. Have A Question About A Home Purchase, Reverse Mortgage, or Refinance? Call Townstone at 312-896-2110