Find! FHA Experts

FHA Home Loan Information
Apply for a FHA Loan
FHA Mortgage Rates
What is an FHA Loan
FHA vs. Conventional
FHA loan limits
FHA Mortgage Insurance
Required Documentation
FHA Closing Costs
Purchase vs. Refinance
FHA Streamline Refinance
FHA Refinance Loan
FHA Cash Out Refinance
FHA Hybrid Arm's
Hope 4 Homeowners H4H
FHA Jumbo Loan Program
Reverse Mortgages
FHA Secure Program
203-K Rehab Loans
203-K Streamline Loans
Find a 203-k Consultant
FHA Kiddie Condo's
Officer next door
Teacher next door
MIP Refund explanation
FHA HUD homes
Home Buying Guides
Message Boards
FHA/VA Blog
 
Get the answers to all your 'bottom line' questions on our Mortgage Calculators Page.
Website Awards
Business Links
Link Exchange
FHA Mortgage Leads
About Us
Privacy Policy
Equal Housing Opportunity.
Equal Housing Opportunity Logo 

 

  www.FHAinfo.com 
2692 Madison Rd. Suite N1 #249, Cincinnati, OH 45208 ---  Contact Us

Copyright © FHA Info 2001-2012
All Right Reserved

 

         Reverse Mortgages for Seniors        

Conventional Reverse Mortgages 

More lenders now offer "conventional" reverse mortgages that are not insured by the federal government, but feature many of the same important consumer protections, including mandatory counseling and asset protection (referring to the non-recourse feature that limits the amount you owe to the value of the home).  

Conventional reverse mortgages are also referred to as "jumbo" loans. Unlike the FHA HECM, which has area lending limits conventional reverse mortgages either have no limits, or they're much higher, like $2-4 million. If you live in a home valued at $550,000 or higher, you may be able to access more equity from a conventional reverse mortgage than you would an FHA HECM.  

Most conventional programs offer lower upfront costs, compared to the FHA HECM, especially if you take all the proceeds upfront as a lump sum. The interest rate charged is typically based on the London Interbank Offered Rate (or LIBOR), plus a margin. Some products offer adjustable rates as well as fixed.  

Most lenders that offer the FHA HECM, also offer one or more conventional programs. Be sure to ask your lender which conventional programs they offer.

Apply for your Reverse Mortgage  Apply Now via the internet


 

How to Qualify
Understanding fha loan credit guidelines
Credit Guidelines
fha loan income guidelinesIncome Guidelines
overcome credit problems to get approved for a fha loanOvercoming Credit Problems
FHA loan case studies


Case Studies

FHA loan underwriting


What are compensating factors ?

How much money do you need for a fha home loan

How much money do I need?

Where can you get Free down payment moneyWhere to get down payment money