Hector Blanchet
President | NMLS: 7861
President | NMLS: 7861
A reverse mortgage allows homeowners aged 62 and older to access the equity in their homes without selling or making monthly mortgage payments. It’s a flexible, federally insured option that can help enhance financial security and independence in retirement.
Here’s how a reverse mortgage compares to other options:
| Feature | Reverse Mortgage | HELOC | 15/30-Year Fixed Mortgage |
|---|---|---|---|
| Monthly mortgage payments | Optional | Required | Required |
| You still own your home | Yes | Yes | Yes |
| Unused line of credit grows regardless of equity* | Yes | No | N/A |
| Non-recourse loan | Yes | No** | No** |
*Available only for HECM reverse mortgage loans with the line of credit option selected by the borrower.
**Except where prohibited by state law.
No required monthly mortgage payments
Borrower retains full ownership of the home
Flexible disbursement options (lump sum, monthly, or line of credit)
Tax-free proceeds for any purpose
FHA-insured programs available
Borrower must be 62 years of age or older
Home must be a primary residence
Eligible property types: single-family, FHA-approved condos, or select multi-unit homes
Borrower must maintain property taxes, insurance, and home maintenance
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President
Vision One Mortgage, Inc. | NMLS: 7861
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