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Home Equity Conversion Mortgage

Home Equity Conversion Mortgages are a way to help seniors who are cash flow poor but have a lot of equity in their homes. This is a way to tap into that equity and not have a monthly mortgage payment.  Home Equity Conversion Mortgages can be for a purchase or refinance. HECM’s are insured through the FHA housing loan programs.

If you can answer yes to the 3 questions below, you may be eligible for this program:

  1. Do you have approximately 50% down payment/or equity on your residence?
  2. Are you or your spouse at least 62+ years-old?
  3. Is or will the subject property be your Primary Residence?

If you answered yes to these questions, you could be a candidate for a home equity conversion mortgage.


 Here is some additional information:


The borrower continues to live in the home just like a traditional loan and is responsible to pay property taxes and homeowners insurance because you are the owner of the home not the bank.

Funds received from a home equity conversion mortgage are not taxable income so it will not affect other retirement earnings.

Borrowers with limited income can qualify since they only need to show they can pay taxes, insurance, and HOA fees.

There are loan costs with a HECM including origination fees, mortgage insurance, title commitment and appraisal fees.

Your heirs have options once the borrower moves out of the home or passes on.


For more information about a home equity conversion purchase or refinance loan please contact me at 407-230-6510 or


Stuart Peisner is a licensed Mortgage Loan Originator with Paramount Residential Mortgage Group. Paramount Residential Mortgage Group is a national mortgage banker directly funding over $1 billion dollars in mortgages each month.


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