Reverse Mortgage - Fannie Mae Homekeeper

Reverse mortgages are becoming the fastest growing type of home loan in the country. It is a powerful tool that helps senior homeowners get tax-free cash. Available in a lump sum, monthly payments to the homeowner, or a line of credit. Or in a combination of the above.

Reverse mortgages help senior homeowners, aged 62 and above, to access the equity they have built up over the years. Most people that have owned their home a long time have a huge amount of equity stored up in their homes. This type of home loan provides a way to tap into that valuable resource.

This loan program is designed to strengthen senior’s personal and financial independence by providing money without a monthly loan payment for as long as they live in the home. You must occupy the home as your primary residence and the home should be paid for or close to it.

• The Fannie Mae Homekeeper reverse mortgage offers the following benefits:
• Tax-free funds for as long as you live in your home.
• No loan repayment for as long as you live in your home.
• No income, medical, or credit requirements.
• Retain ownership of your home for life. This is guaranteed as long as you maintain your home and pay homeowners insurance and real estate property taxes.
• Choose a cash flow plan tailored to your needs.
• No restrictions on how you may use the funds.
• A tax advantaged way to pass on part of your estate today.

Fannie Mae makes available numerous reverse mortgage brochures and other literature. You can obtain them free of charge at no obligation by calling 1-800-7FANNIE (1-800-732-6643).

Types of Reverse Mortgages

Cash Account reverse mortgages :: FHA HECM reverse mortgages :: FAQ