Home Equity Conversion Mortgage
What is a HECM Loan?
Your perfect home is waiting at Aventura and there’s no reason cost concerns should keep you from making the move. A Home Equity Conversion Mortgage (HECM) loan gives you the flexibility to purchase a new home that better suits your needs while preserving your cash flow. This government-backed program is available through lenders approved by the Federal Housing Administration (FHA), offering you financial peace of mind. With a HECM, you have the opportunity to make a one-time down payment and skip the burden of monthly mortgage payments. Making Aventura your new home has never been easier!
To qualify for a HECM loan, at least one person on the title must be over the age of 62 and you must stay current on all property taxes, insurance and HOA fees. A HUD-approved counselor is ready to walk you through the benefits of a HECM, qualification requirements and loan repayment options. Reach out today to Aventura’s preferred Reverse Mortgage Specialist, Marvis Baehr, via the form below!