Products

A reverse mortgage is a special loan designed specifically for homeowners age 62 and older. Borrowers receive tax-free funds in the form of a monthly check, a line of credit, a lump sum payment, or a combination of the three. The senior remains the property owner and no repayment is required until the borrower permanently vacates the residence.

Financial Freedom offers three reverse mortgage products: HUD′s Home Equity Conversion Mortgage (HECM), Fannie Mae′s Home Keeper Mortgage and our proprietary Cash Account product.

Created in 1989, the HECM is the most popular reverse mortgage option in the industry. Seniors find comfort in the safety of this product, knowing it is insured by the federal government.

Fannie Mae created the Home Keeper Mortgage for homes valued over the FHA lending limits. The Home Keeper for Home Purchase is an additional feature that allows seniors to buy a new home that better suits their needs using a reverse mortgage loan in addition to a personal down payment.

Financial Freedom is the only company that currently offers a proprietary reverse mortgage product – the Cash Account Advantage®. These loans are aimed at homes valued over the FHA and Fannie Mae lending limits, and seniors have three options from which to choose: Credit Line Option, Combo Option and Cash Out Option.