• Home
  • Buying a Home
    • The Loan Process
    • Items Needed
    • Do's and Don'ts
    • Calculate My Payment
  • Refinancing
    • 5 Reasons to Refinance
  • Reverse Mortgage
    • Reverse Mortgage Myths
    • Step by Step Process
    • Six Frequently Asked Questions
  • Our Team
  • Testimonials
  • Contact Us
Picture
Features
  • Predictable fixed payments
  • Easy to amortize payments
  • Protection against rising interest rates
Recommended For
  • Homebuyers who prefer regular, fixed payments
  • Homebuyers with fixed income
  • Homebuyers who plan to stay in their home for many years

Picture
Features
  • Low down payment
  • Flexible income, debt, and credit requirements
  • Use gift funds to help with your downpayment, contact your mortgage professional to learn more about this benefit
Recommended For
  • Homebuyers with limited savings
  • Low to moderate income homebuyers

Picture
Features
  • No down payment required
  • Flexible income, debt, and credit requirements
Recommended For
  • Qualified veterans, reservists, active service members and their spouses
  • Eligible first or second time homebuyers who have low to moderate income

Picture
Features
  • 100% Financing
  • Flexible income, debt, and credit requirements
  • Little or no closing costs in most cases
Recommended For
  • Homebuyers purchasing a home located in a designated USDA rural area
  • Low to moderate income homebuyers

Picture
Features
  • Mortgage amounts in excess of the conforming limit of $417,000 for a  one-unit property
  • Fixed or Adjustable Options
Recommended For
  • Homebuyers who need financing in larger loan amounts
  • Investment-minded buyers who can afford a large purchase, but want to leverage assets more effectively

Picture
Features​
  • The ability to use your home equity to help maintain a more comfortable standard of living, in your own home.​​

Recommended For
  • Available exclusively to homeowners and homebuyers age 62 and older
  • Supplement retirement income with a steady stream of funds





​
What is a reverse mortgage? , a reverse mortgage allows you to convert a portion of your home equity into tax-free* funds—so you can live more comfortably, in your own home, with greater financial flexibility. Originally created in the 1980s, recent product advances and program improvements have transformed the reverse mortgage into a safe and effective retirement financing tool. For example, you can use a reverse mortgage to:

  • Establish a “stand-by” line of credit that you can tap as needed. Unlike a traditional Home Equity Line of Credit (HELOC), a reverse mortgage line of credit cannot be reduced or revoked, as long as the terms of the loan are met. And the unused line of credit grows over time.
  • Avoid selling investments at a loss in a “down” market

  • Delay collecting Social Security, for a larger monthly benefit
  • Pay for medical or long-term care costs
  • Pay off an existing mortgage and/or other debts, to improve cash flow
  • Finance the purchase of a more suitable home, with no monthly mortgage payments
Among the benefits:

  • Tax-free* proceeds you can use however you choose.
  • Great flexibility. You can take your proceeds as a line of credit; monthly advances for a set period of time; a monthly stream of funds for as long as you live in your home; a lump sum; or a combination of these options. You choose the plan that works best for you.
  • No monthly mortgage payments. If you qualify and have an existing mortgage, home equity loan or any other type of debt, you can pay it off and improve your monthly cash flow, with no minimum monthly loan payments. (As the homeowner, you remain responsible for paying property taxes, homeowners insurance, and homeowner’s association dues if applicable.)
To learn more, contact us today.As you explore your reverse mortgage options with Finance of America Mortgage, a licensed Reverse Mortgage Specialist will serve as your guide through the entire process. We’ll answer all your questions, give you detailed calculations, and help you make well-informed decisions that are in your best interests.

* Not tax advice. Consult a tax professional.

This material is not from HUD or FHA and has not been approved by HUD or any government agency.
Picture
Picture
Picture
Picture
Picture
Picture
Buying A Home
Refinancing
​Reverse Mortgage
About Us
Contact Us Today
Picture
Andrew Hennen Team | 12655 SW North Dakota Street, Tigard, Oregon 97223 | Direct: 503-729-3867
©2019 Finance of America Mortgage LLC is licensed nationwide |  | NMLS ID #1071 (www.nmlsconsumeraccess.org) | 300 Welsh Road, Building 5, Horsham, PA 19044 | (800) 355-5626 | AZ Mortgage Banker License #0910184 | Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act

Some products may not be available in all states. Credit and collateral subject to approval. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Terms and conditions apply. Subject to qualification. http://www.nmlsconsumeraccess.org/ Questions? Concerns? Email us at customerrelations@financeofamerica.com. Privacy Policy https://www.foamortgage.com/privacy
  • Home
  • Buying a Home
    • The Loan Process
    • Items Needed
    • Do's and Don'ts
    • Calculate My Payment
  • Refinancing
    • 5 Reasons to Refinance
  • Reverse Mortgage
    • Reverse Mortgage Myths
    • Step by Step Process
    • Six Frequently Asked Questions
  • Our Team
  • Testimonials
  • Contact Us