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 Jill Aylwin Realtor Texas Cash Back Real Estate

Jill Aylwin - Real Estate Broker, Realtor, MBA
Contact Us
 Realtor MLS
    Ph: (281) 334-CASH

  About Reverse Mortgages

Reverse mortgages offer seniors the ability to retain their personal and financial independence. Unlike a traditional mortgage that you make payments on each month, reverse mortgages provide payments to you-in effect "reversing" the direction of the mortgage payments.

Loan products

Many lenders offer a variety of reverse mortgage products:

  • Fannie Mae's Home Keeper® mortgage is an adjustable-rate mortgage (ARM) that lets you convert the equity in your home into a variety of flexible payment plans, including monthly payments, a line of credit, a lump sum payment, or a combination of these.

  • Fannie Mae's Home Keeper® for Home Purchase mortgage is a variation of the Home Keeper loan that provides some of the funds for your purchase of a new house without having to dip too far into your savings or make monthly mortgage payments. It may be appropriate for seniors who want to buy a house that better fits their needs.

  • The Home Equity Conversion Mortgage (HECM) is insured by the Federal Housing Administration (FHA) of the U. S. Department of Housing and Urban Development (HUD). This product features flexible payment plans, including monthly payments, a line of credit or a combination of these.

All of these reverse mortgage options let you turn your home equity into a steady income or a flexible source of funds as long as the home is occupied as your principal residence.


In most cases, these reverse mortgages have similar requirements:

  • You must be 62 years of age or older to qualify.

  • You must own your home free and clear or have a very low mortgage balance.

  • You must attend counseling before applying for a reverse mortgage loan.

  • All borrowers must occupy the house used for the Home Keeper mortgage as their primary residence.


There are other considerations for each particular reverse mortgage product, which may include the following:

  • Lenders typically base the loan amount on factors that include the age of the borrower(s), the number of borrowers, and the value of the home.

  • Usually, you can change payment options over the life of the loan for a nominal fee.

  • Except in the case of default (such as failing to pay property taxes), the loan will not become due until the borrower either dies, transfers ownership in the property, or permanently moves from the home.

  • You or your estate will never owe more than the value of the property.

Home Keeper is a registered trademark of Fannie Mae.


Buy a Pre-Owned Home
in the Houston Area
and save up to 1%


Contact Us today -- Or --
Call us anytime at (281) 334-CASH


Buy a New Construction Home
in Texas & Save up to 2%
Sell a Home in the Houston
Area & Save up to 1%
Buy a Pre-Owned Home in the
Houston Area & save up to 1%

Texas Cash Back Real Estate
Jill Aylwin / Real Estate Broker, Realtor, MBA
Contact Us or Call: (281) 334-CASH

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