Reverse Mortgage Options

• HUD/FHA - The Home Equity Conversion Mortgage (HECM) is a government insured program. The loan amount is based on the FHA lending limits, which are a minimum of $200,160 and a maximum of $362,790.

HECM monthly adjustable - The interest rate can adjust monthly.
HECM annual adjustable - The interest rate can adjust yearly.

• The Fannie Mae - Home Keeper™is a reverse mortgage sponsored by Fannie Mae. The loan amount is based on a maximum lending limit of $417,000.

• The Financial Freedom Cash Account™ - is a reverse mortgage sponsored by Financial Freedom Senior Funding Corp. This product has no loan limits and it typically the choice by people with higher valued homes. The three options under the Cash Account are:

The Standard Cash Account™ – Higher Fees and fewer restrictions.
The Zero Point Cash Account™ – Lower Fees and more restrictions.
The Simple Zero Cash Account™ - No Fees and the most restrictions.

Griffin Financial Mortgage, LLC will provide a detailed comparison of programs available personally discuss your best options.