Types of Loans

What type of HECM loan is right for you?

There are a number of things to consider when thinking about a HECM loan.

Click below to view the Refinance and Purchase products and learn about eligibility.

Questions? Get in touch and contact me. I'd love to learn more about your unique financial situation and help you discern if one of these products is right for you!


There are many factors to consider before deciding whether a HECM is right for you. I’m here to help you through this process. Let’s meet and discuss program eligibility requirements, financial implications and more to see if this type of loan product is right for you.


There are a few requirements that both the borrower and property must meet:

Borrower Eligibility:

  • Be 62 years of age or older
  • Occupy the property as your principal residence
  • Be current with payments, and not own any federal debt
  • Have financial resources to continue to make timely payment of ongoing property charges such as property taxes, insurance and Homeowner Association fees, etc.
  • Participate in an educational seminar about HECM mortgages

Property Eligibility:

  • The property must be a single family home or 2-4 unit home with at least one unit occupied by the borrower
  • HUD-approved condominium
  • FHA approved manufactured home

Questions? Contact me on the link above. I’m happy to walk you through the process.

HECM Purchase

Eliminate your monthly mortgage payment and purchase a new home!


If you’re at least 62 years or older, the Home Equity Conversion Mortgage (HECM) for Purchase Loan can help you buy your next home without a monthly mortgage payment! The HECM for Purchase is a Federal Housing Administration (FHA) insured mortgage that allows you to utilize the equity from the sale of your previous home to buy your next primary residence in one unique transaction.

Many home buyers use the HECM for Purchase Loan to:

  • Right-size to a smaller, lower maintenance home
  • Buy a home closer to family or friends
  • Lower their cost of living during retirement
  • Enjoy carefree living in a senior housing community

Borrower Eligibility:

  • Borrowers must be 62 years or older
  • Purchased home must be a primary residence
  • Home must be occupied within 60 days of loan closing
  • Property must be a single family home, 2-to-4 unit owner-occupied dwelling, FHA approved condo, or manufactured home that meets FHA requirements
  • The difference between the purchase price of the new home and the HECM loan proceeds must be paid in cash from qualifying sources such as the sale of prior residence, home buyer’s other assets or savings
  • HUD approved borrower education must be completed

Questions? Contact me on the link above. I’m happy to walk you through the process.