Now you can offer borrowers a lower initial interest rate, as compared to an annually adjustable HECM, and a lower lifetime cap, as compared to a traditional monthly adjustable HECM—just 5% over the initial rate. All while giving them access to the same amount of available proceeds. We’re proud to be the first to provide this exciting new product to you and your clients, so you can offer them greater protection against rising interest rates and more peace of mind.

Home Equity Conversion Mortgage (HECM) Products

Reverse Mortgage Funding offers a full array of HECM reverse mortgages, plus the expertise to help you understand and navigate recent product changes made by HUD.

HECM Annual

Now you can offer borrowers a variable rate HECM that adjusts annually—with a lifetime cap of just 5% above the initial interest rate, and an interval cap to ensure that the interest rate cannot increase or decrease by more than 2% annually. Rates are based on the one-year LIBOR index and all payment plan options are available.

We’re proud to be able to provide this product to you and your clients, so you can offer them greater protection against rising interest rates.

HECM Fixed Rate

With an interest rate established at the loan closing, and fixed for the life of the loan, this HECM provides homeowners with peace of mind. With a HECM Fixed Rate, you’ll always know exactly how much interest is accruing on your reverse mortgage, but you are required to take all of your money at closing in one lump sum. This may be a desirable choice if you’re using your reverse mortgage to pay off a larger existing mortgage or cover other immediate needs.

HECM Adjustable

The interest rate on this HECM fluctuates on a monthly basis, but it also offers more options for homeowners. You can choose a lump sum draw, line of credit, monthly payment, or combination of these. For example, you might choose to take some of your cash up front and put the rest in a line of credit so it’s available when and if you need it. You only accrue interest on the money that you actually take.

HECM For Purchase

This reverse mortgage helps you purchase a new home that will better fit your future needs by taking out a reverse mortgage on that home. Both the purchase and the reverse mortgage are handled in one transaction.

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