Amston Mortgage Company, Reverse Mortgage Programs

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REVERSE MORTGAGE PROGRAMS

There are a variety of reverse mortgage programs that are designed to fit into a borrower's situation or objective. Each program has its own unique set of guidelines and benefits, which need to be reviewed to ensure that the best program is selected to meet the needs of the borrower.

FHA - Home Equity Conversion Mortgage

The FHA Home Equity Conversion Mortgage (HECM) is currently the most popular and flexible reverse mortgage program available. This program typically gives the borrower maximum borrowing power as well as the most flexibility as to how a borrower may take the available funds. For more information about the MONTHLY program, CLICK HERE or for the ANNUAL program CLICK HERE.

Fannie Mae - Standard

The Fannie Mae reverse mortgage program shares many of the same attributes of the FHA Home Equity Conversion Mortgage and the differences can be advantageous in certain circumstances. For more information, CLICK HERE.

Cash Accounts

The Cash Account programs are designed for properties that typically exceed $700K in value. There are three Cash Account program available that provide borrowers access to more of the equity in their home than the government programs. For more information, CLICK HERE.

Program Comparisons

For a comparison of all reverse mortgage programs, CLICK HERE.

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updated October 2, 2006