Loan Options

A Solution Tailored to You

One Reverse Mortgage offers four types of reverse mortgages. Aside from specific requirements of the loan, we can customize the loan to your individual need.

At One Reverse Mortgage, our licensed specialists are here to answer questions and help with your decision. One of the great advantages of working with us is that your licensed specialist is with you throughout the entire process.

Loan Option 1

Adjustable Rate HECM

The Adjustable Rate HECM is an option that provides financial flexibility. The Adjustable Rate HECM can be utilized in the following ways:

  • Subject to an Initial Disbursement Limit, you can receive the loan proceeds from a line of credit, monthly disbursements, lump sum or a combination of the three. Using the proceeds from your loan could allow you to delay other retirement benefits* and investments, which allows them more time to potentially increase in value.
  • You are not required to take any money at the time you start your line of credit. The amount of available funds can grow over time, giving you more money to access in the future.
Loan Option 2

Fixed Rate HECM

The Fixed Rate HECM disburses money in one lump sum and locks the interest rate in place at the time of closing. The interest rate is the same for the duration of the loan. This loan option is typically used to:

Loan Option 3

HECM for Purchase

Using a reverse mortgage, you can purchase a new home with no required monthly mortgage payment. Please remember you are still responsible for property taxes, homeowner’s insurance, and maintaining the property. With a reverse mortgage, you are not required to repay the loan until it becomes due and payable. The loan generally becomes due and payable if you (or an eligible non-borrowing spouse during a deferral period) move, sell the property, or pass away. You remain the owner of the home and you (or an eligible non-borrowing spouse during a deferral period) must continue to pay property taxes, insurance fees, and home maintenance costs. Here are some things to know about this loan:

* Please consult your financial advisor.

Loan Option 4

Home Equity Loan Optimizer (HELO)

The Home Equity Loan Optimizer, or HELO, was created by One Reverse Mortgage to provide access to home equity for those who may not qualify for the FHA loan. Due to government regulations, housing restrictions, and lending limits, some people are unable to get an FHA reverse mortgage. HELO may be the perfect solution! Here are a few key features:

For more information on HELO and to see if you qualify, call our licensed specialists today!