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NMLS #XXXXXXX · Equal Housing Opportunity

(215) 555-0145Pre-qualify

Loan programs

See all 16 programs

Six purchase programs, each underwritten in our Center City office rather than sold to an out-of-state desk.

Brick front steps of a Philadelphia row homeCompare all purchase programs

Rate and term, cash-out, or a streamline that skips the appraisal. We run the break-even before you apply.

Refinance paperwork being signed at a tableRun the refinance numbers

Second-lien options that leave a low first mortgage rate untouched.

Bright renovated living room with hardwood floorsSee equity options

Qualified on the property, not your tax returns. The reason most of our repeat clients came to us.

Brick multifamily apartment buildingOpen the investor desk
(215) 555-0145

NMLS #XXXXXXX · Equal Housing Opportunity · PA, NJ, DE, MD

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Tools and rates

See every tool

Five working calculators. Every figure recomputes as you type, including the full amortization schedule.

Amortization figures and a calculator on a deskOpen the calculator hub

Sample pricing, the points grid with break-even months, and a line-item closing cost sheet.

Planning a home purchase budget at a laptopSee today's sample rates

Who underwrites your file, where we are licensed, and what clients said afterwards.

Keystone Capital Mortgage office meeting roomMeet the lending team
(215) 555-0145

NMLS #XXXXXXX · Equal Housing Opportunity · PA, NJ, DE, MD

Start pre-qualification

Home equity

Reverse mortgage (HECM) loans

A serious product with serious obligations. We explain both.

Home equity62 for all borrowers on titleMandatory
Start pre-qualificationTalk it through
Comfortable, well-lit living room in a long-owned home

What a Reverse mortgage (HECM) loan actually is

A Home Equity Conversion Mortgage is an FHA-insured reverse mortgage available to homeowners aged 62 and over. It converts part of your equity into cash, a line of credit or monthly payments, with no required monthly principal and interest payment. The balance grows over time and becomes due when the last borrower leaves the home permanently.

It is not free money and we do not sell it as such. You remain responsible for property taxes, homeowners insurance, any association dues and maintaining the property. Failing those obligations is the main cause of foreclosure on reverse mortgages. HUD requires independent counselling from an approved agency before an application may even be taken, and we consider that requirement a feature rather than an obstacle.

Best suited to

  • Homeowners 62 and over with substantial equity and long-term plans to stay
  • Households needing supplemental income without a monthly mortgage payment
  • Paying off an existing forward mortgage to remove a monthly payment obligation
  • Establishing a standby line of credit that grows if left undrawn

What comes with the loan

  • Referral to an independent HUD-approved counselling agency before any application is taken
  • Financial assessment reviewing income and credit to determine whether a set-aside is required
  • Plain-language amortization projection showing the balance at 5, 10 and 15 years
  • Comparison against downsizing, a HELOC and a standard refinance
  • Explanation of non-recourse protection and what heirs may do at repayment
  • A family conversation invited into the process, with your permission

How a file moves

  1. 01

    Counselling first

    HUD requires independent counselling before an application. You receive a certificate; we cannot proceed without it.

  2. 02

    Financial assessment

    We review income, assets and property charge payment history. A shortfall can require a life expectancy set-aside from the proceeds.

  3. 03

    Appraisal

    FHA appraisal establishing value, subject to the FHA lending limit of $1,209,750 (sample).

  4. 04

    Underwriting and HUD case number

    Standard FHA case processing. Expect 45 to 60 calendar days from counselling certificate to closing.

  5. 05

    After closing

    Annual occupancy certification, and continued responsibility for taxes, insurance and maintenance.

Why borrowers choose it

  • No monthly P&I payment

    Principal and interest are not paid monthly. Property charges remain your responsibility.

  • Non-recourse

    Neither you nor your heirs owe more than the home's value at repayment, even if the balance exceeds it.

  • Growing line of credit

    An unused HECM line of credit grows at the note rate plus the annual MIP rate over time.

  • Flexible payout

    Lump sum, tenure payments for life in the home, a term, a line, or a combination.

What to watch out for

  • Taxes, insurance, association dues and maintenance remain your obligation. Default on them can lead to foreclosure.
  • The balance grows with interest and insurance, reducing the equity available to heirs.
  • Moving out for more than twelve consecutive months, including for medical care, makes the loan due.

Reverse mortgage (HECM) questions we get asked

Still unclear? Call (215) 555-0145 and ask for the originator covering your county.

All questions

The loan becomes due when the last borrower dies, sells, or leaves the home permanently, meaning more than twelve consecutive months. It can also become due if you fail to pay property taxes, insurance or association dues, or let the property fall into disrepair. Those obligations do not go away.

The loan is non-recourse. Heirs may repay the balance or 95% of the current appraised value, whichever is less, and keep the home; or sell it and keep any surplus; or sign the property over. They are never personally liable for a shortfall.

HUD requires it precisely because the product is complex and the decision is difficult to reverse. An independent counsellor with no financial interest in the outcome reviews the numbers and the alternatives with you. We treat it as essential.

Often not. Selling and buying something smaller frequently leaves more money and fewer obligations. We run that comparison openly, and a fair number of the people who come to us about a HECM leave having decided to move instead.

Programs worth comparing

Find out if Reverse mortgage (HECM) fits

Fifteen minutes, a soft credit pull, and a straight answer about which program actually suits your file.

Start pre-qualification(215) 555-0145

No application fee. Soft credit pull at pre-qualification. Flat $1,095 origination at closing.

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