RETIREMENT, HOME EQUITY & PEACE OF MIND

Can You Afford to Stay in the Home You Love Throughout Retirement?

Learn how retirement income, home equity, and housing choices can work together — before you have to make an important decision.

READ THE FREE HOME EQUITY GUIDE

Stay Home
Explore ways home equity may help support aging in place.
Flexibility
Understand how home equity may fit into your retirement income plan.
Tradeoffs
Learn when a reverse mortgage may make sense — and when another option may be better.
FREE • ON DEMAND • UNDER 20 MINUTES

Reverse Mortgages Explained in Under 20 Minutes

HECM 101 is a short, on-demand introduction to reverse mortgages in plain English — just enough to help you decide whether you’d like to see what the numbers could look like for your own situation.

Curious what the numbers could look like for you? Text HECM to 904-522-4096.

SHOW ME MY NUMBERS
The Basics

What Is a Reverse Mortgage — and How Does It Work?

If you’re 62 or older and own a home, your home equity may be one of the largest financial resources available to you in retirement.

A Home Equity Conversion Mortgage, or HECM, is a federally insured reverse mortgage that allows eligible homeowners to access a portion of their home equity while continuing to own and live in the home.

Unlike a traditional mortgage, a HECM does not require monthly principal and interest mortgage payments. The loan balance grows over time as funds are received and interest and applicable charges accrue.

The loan generally becomes due when the last borrower permanently leaves the home, sells the property, or passes away. Borrowers must continue to meet the loan requirements, including paying property taxes and homeowners insurance and maintaining the home.

🏡
You Stay in Your HomeYou retain title and ownership while meeting the requirements of the loan.
💰
Flexible Payout OptionsDepending on eligibility and the payment plan selected, funds may be available as a line of credit, monthly advances, a lump sum, or a combination.
🛡️
Non-Recourse ProtectionNeither you nor your heirs are personally responsible for more than the home’s value when the loan becomes due, subject to HECM program requirements.
📋
HUD-Approved Counseling RequiredIndependent HUD-approved counseling helps ensure you understand the program, costs, responsibilities, and alternatives before proceeding.
The Process

How It Works

1
Initial Conversation
We review your goals, current mortgage, home value, and equity position to determine whether a HECM may be worth exploring.
2
HUD Counseling
You complete an independent session with a HUD-approved counselor before moving forward with the loan process.
3
Application & Appraisal
If you decide to proceed, we complete the application, gather required documentation, and coordinate the FHA appraisal and underwriting process.
4
Funding
After closing and any applicable waiting period, funds become available according to the payment option you selected — such as a line of credit, monthly advances, lump sum, or combination.
Common Questions

Myths vs. Reality

Myth
"The bank takes my home."
Reality: You remain the owner of the home and keep title, as long as you continue to meet the loan requirements.
Myth
"My heirs will be stuck with debt."
Reality: HECM loans are non-recourse. Heirs can usually sell the home, repay the loan balance, and keep any remaining equity, subject to program rules.
Myth
"It's only for people who are broke."
Reality: Some homeowners use a reverse mortgage because they need additional cash flow. Others consider it as part of a broader retirement-income strategy.
Myth
"I can't get one if I have a mortgage."
Reality: An existing mortgage may be paid off with reverse-mortgage proceeds if enough equity is available, which can eliminate the existing required monthly principal-and-interest payment.
WATCH A QUICK ANSWER

Reverse Mortgage Questions & Myths

Here’s a quick answer to one of the most common questions homeowners ask about reverse mortgages.

Watch More Reverse Mortgage Questions & Myths
Eligibility

Who Qualifies?

  • At least one borrower must be age 62 or older
  • The home must be your principal residence
  • You must have sufficient home equity for the transaction
  • You must be able to meet ongoing property obligations, including property taxes, homeowners insurance, and maintenance
  • The property must meet FHA eligibility requirements
  • HECM counseling with a HUD-approved counselor is required
What Determines How Much You May Qualify For
Key facts about reverse mortgage borrowers
AGE
The age of the youngest eligible borrower is an important factor.
HOME VALUE
The property’s value and FHA lending limits affect the calculation.
INTEREST RATES
Current expected interest rates influence the amount of available proceeds.

Explore What Your Home Equity Could Mean for Retirement

A brief conversation can help you understand your options, the tradeoffs, and whether a reverse mortgage is worth exploring.

Schedule a Conversation
RY Lending
Robert Yi | Mortgage Loan Originator
NMLS #2191031
NEXA Lending, LLC | NMLS #1660690
Licensed in Florida, Indiana and California
Equal Housing Opportunity
Equal Housing Opportunity
This is not a commitment to lend. Programs, guidelines, rates and terms are subject to change without notice. Not all applicants will qualify. All loans are subject to applicable underwriting and approval requirements.

NEXA Lending, LLC is not affiliated with or acting on behalf of HUD, FHA, or any other government agency.

© 2026 RY Lending. All rights reserved.
Scroll to Top