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CONSUMERS

What is a Reverse Mortgage Loan?
What is a Home Equity Conversion Mortgage for Purc?hase Loan (H4P)

What is a Home Equity Conversion Mortgage for Purc?hase Loan (H4P)

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A reverse mortgage is a unique loan that allows those 62 years of age and older to convert a portion of the equity they have built up in their homes into cash and defer repayment until they pass away or move out. The loan can provide you with cash that you can use now, help you develop a line of credit, and more, giving you more financial flexibility in retirement.

Benefits of A Reverse Mortgage

There are many incredible benefits to this unique loan, and it can be a great way way for you to feel secure in your retirement and provide you with the financial freedom you are looking for.

  • No monthly mortgage payments except for taxes, insurance, and maintenance

  • Growing line of credit (applies to unused funds)

  • Increased discretionary cash flow

  • Can sell YOUR home at any time

  • Does not require payment until last living borrower permanently leaves the home

  • Bridge the medicare gap

  • Increase your purchasing power

Reverse Mortgage Loan Articles 
Articles
Satisfied Customer Reviews & Stories
CUSTOMER STORIES

Discover firsthand accounts of real Fairway customers who have utilized reverse mortgage loans to navigate various financial scenarios in retirement. From refinancing traditional mortgages to enhancing quality of life, each story sheds light on the versatility and benefits of Home Equity Conversion Mortgage (HECM) loans, commonly called reverse mortgages.

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Explore these stories to gain insights into how reverse mortgages can address challenges and unlock opportunities in retirement planning.

REFINANCE A TRADITIONAL MORTGAGE
01:41

REFINANCE A TRADITIONAL MORTGAGE

GARY PETERSON: For seniors burdened by mortgage payments in retirement, a reverse mortgage offers relief by refinancing their mortgage, eliminating monthly mortgage payments from their budget. (Borrowers must pay essential property charges, like taxes and insurance.) Discover how Gary secured his financial future while remaining in his beloved home.
COMBAT INFLATION AND PAY DOWN DEBT
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COMBAT INFLATION AND PAY DOWN DEBT

When inflation persists during retirement, you may need to seek alternative strategies to mitigate its impact. JEFF: Learn how Jeff strategically used a reverse mortgage to combat inflation, manage debt, and maintain financial stability during retirement.
FUND LONG-TERM CARE/ COVER MEDICAL EXPENSES
01:24

FUND LONG-TERM CARE/ COVER MEDICAL EXPENSES

REBECCA ROSE MADDEN: Accumulating long-term care expenses and medical costs can present substantial risks to your financial stability, assets and intended legacy. Leveraging home equity can be a versatile way to finance associated costs. Discover how Rebecca found financial security and peace of mind by leveraging a reverse mortgage to cover unexpected medical expenses.
A DIVORCE SOLUTION
01:19

A DIVORCE SOLUTION

COLIN: In the case of older adults undergoing divorce, the division of assets becomes particularly complex, given the likelihood of decades of intertwined finances. Explore Colin's journey and how he utilized a reverse mortgage to secure a new home and financial stability following a divorce in later life.
BUFFER AGAINST DOWN MARKETS*
02:43

BUFFER AGAINST DOWN MARKETS*

TODD: A reverse mortgage can be tailored as a flexible line of credit, providing convenient access to cash as needed, which proves invaluable for long-term financial planning. Also, hear from Tod, a retired financial advisor, describes how he strategically integrated a reverse mortgage into his retirement plan.
EMERGENCY FUND
02:41

EMERGENCY FUND

You may be grappling with whether your retirement savings will be sufficient to sustain you through your golden years. One strategy is establishing a reverse mortgage line of credit, a reliable and readily accessible emergency fund for unforeseen contingencies. NANCY PAINE: Find out how Nancy established a reverse mortgage line of credit to create a reliable emergency fund, helping to ensure financial stability and peace of mind during retirement.
ENHANCE QUALITY OF LIFE
01:56

ENHANCE QUALITY OF LIFE

SUSAN & JIM: A reverse mortgage offers a pathway to financial flexibility that can enrich the quality of your retirement years. Whether exploring new destinations, acquiring a reliable vehicle or indulging the grandkids, the proceeds from a reverse mortgage can empower you to realize your dreams. Join Susan and Jim on their journey as they share how a reverse mortgage allowed them to enjoy a more fulfilling retirement with newfound financial flexibility.
PURCHASE A NEW HOME
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PURCHASE A NEW HOME

BOBBY & GLORIA: One often overlooked aspect of buying a new home later in life is that alternative financing options exist beyond the usual avenues of paying in cash or obtaining a conventional mortgage. There’s another option: leveraging a reverse mortgage to buy a new home. Discover Bobby and Gloria's experience using a HECM for Purchase loan to increase purchasing power and acquire their dream home.
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