Loan types
Which HECM Fits Your Situation?
Four ways to use the equity you have already built. Curtis will help you sort out which one, if any, fits.
HECM Refinance
Pay off the mortgage you have now and free up that monthly payment. Remaining funds can go to a line of credit, monthly income, or cash.
HECM for Purchase
Buy your next home with one down payment and no monthly mortgage payment.* Useful for downsizing or moving closer to family.
Monthly Income Plan
Steady monthly draws for a set term or for as long as you live in the home.
Line of Credit
Draw only what you need. The unused portion grows over time, which makes it useful as a standby reserve.
Who Qualifies
Borrower
- Be 62 years of age or older
- Occupy the property as your principal residence
- Be current on payments and not delinquent on federal debt
- Complete a session with an independent HUD-approved counselor
- Show the ability to keep up taxes, insurance and upkeep
Property
- Single-family home, or a 2–4 unit with one unit owner-occupied
- FHA-approved condominium
- Manufactured home meeting FHA requirements
- Property must meet FHA minimum standards
*Borrowers remain responsible for property taxes, homeowners insurance and home maintenance. The loan balance grows over time.
Ready to Talk It Through?
Call 208-412-3676 or send a message. No pressure, no obligation.