Reverse Mortgages
A reverse mortgage lets homeowners age 62 and older turn part of their home equity into cash with no monthly principal and interest payment, as long as they live in the home and keep up with taxes, insurance and maintenance. The most common type is the FHA-insured Home Equity Conversion Mortgage (HECM). As a broker, Rebel Lending arranges reverse mortgages through our wholesale lender partners.
How it works
- Receive funds as a lump sum, monthly payments, a line of credit, or a mix
- No monthly principal and interest payment is required while you live in the home
- The loan is repaid when you sell, move out permanently, or pass away
- You keep the title to your home
Your responsibilities
- Live in the home as your primary residence
- Keep paying property taxes, homeowners insurance and any HOA dues
- Maintain the home
Before you apply
Federal rules require a counseling session with a HUD-approved counselor before you can get a HECM. We'll walk you through the process and help you decide whether a reverse mortgage fits your plans.