What a reverse mortgage can do for you
Do I qualify?
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If you’re 62 or older and own your home, a Home Equity Conversion Mortgage (HECM) may help you access funds for everyday expenses, healthcare, home improvements, or simply more breathing room in retirement — while you keep living in the home you love.
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AGE IN PLACE — Stay in the home you love and age in place with more confidence.
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NO MONTHLY MORTGAGE PAYMENT — Support retirement cash flow while staying current on taxes, insurance, and upkeep.
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FLEXIBLE FUNDS Choose a line of credit, monthly payments, a lump sum when allowed, or a mix.
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At least one borrower is age 62 or older
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The home is your primary residence
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You have enough equity for the loan to make sense
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You can continue paying property taxes, homeowners insurance, and required maintenance
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You complete HUD-required reverse mortgage counseling
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The property meets FHA eligibility standards
What the process looks like
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Talk with Larger Legacy about your goals and timeline
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Review a personalized estimate of available funds
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Complete independent reverse mortgage counseling
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Start the application and gather documents
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Appraisal and underwriting
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Closing — then access funds based on the option you choose
How you can receive funds
Depending on your situation and loan type, funds may be available as a line of credit you draw when needed, scheduled monthly payments, a lump sum at closing (when allowed), or a mix. We’ll also talk through options for setting aside amounts for taxes and insurance when that helps you stay protected.
FHA mortgage insurance and interest apply. Current costs and available options will be reviewed with you before you decide — this is educational information, not a commitment to lend.
