Loan Program
Reverse Mortgage Loans
A tool for retirement cash flow, and not right for everyone.
Overview
What this program is for.
A reverse mortgage lets eligible homeowners aged 62 and over draw on home equity as a lump sum, a monthly payment or a line of credit, with no required monthly mortgage payment while they live in the home. Taxes, insurance and upkeep remain the homeowner’s responsibility, and the balance grows over time.
It suits some retirement plans very well and others not at all. The honest conversation, including what it means for heirs, happens before any application.
Highlights
Reverse Mortgage at a glance.
Age 62 and over
Eligibility starts with age and the equity in the home.
No required monthly payment
Taxes, insurance and maintenance remain your responsibility.
Lump sum, income or line of credit
Structured around the retirement plan, not the product.
Family included
The effect on heirs is explained before anything is signed.
How It Runs
The same four steps, every file.
01. Pre-Approval
A real pre-approval tells you your range, makes your offer credible to a listing agent, and sets the file up to move fast.
02. Loan Application
A defined document list, given to you once and up front, not drip fed as a series of surprise requests.
03. Underwriting
Your file is reviewed and conditions are cleared as they come in. You are told where it stands rather than left guessing.
04. Closing
Documents are drawn and sent to the title company, and you sign. Closing on time is the commitment.
Also Consider
Related programs.
First-Time Buyers
A real pre-approval, and someone who explains every decision before you have to make it.
Learn more →Conventional Loans
The standard on most Texas purchases, and often the cheapest once you have equity or strong credit.
Learn more →FHA Loans
Lower down payment and more forgiving credit guidelines, backed by the federal government.
Learn more →
