Page 15 - 2019 Retail Info Kit - Jumbo Booklet

To qualify for the Advantage, you must:

Be 60 years or older*

Own a high-value home (exceeding the FHA maximum claim amount of $765,600)

Live in the home as your primary residence

Have no mortgage or have a small mortgage relative to home value
that your Advantage will pay off before disbursing your loan proceeds

Undergo a financial assessment to ensure your suitability for the loan and your ability to
comply with the loan terms, including ongoing home maintenance and payment of your

property taxes and home insurance

Complete a counseling requirement confirming your understanding of how a reverse
mortgage works and your options and ongoing obligations under the loan

* To be eligible for the Advantage Fixed or Advantage Flex, borrowers must be at least age 60 at time of loan closing.
Advantage Select borrowers must be at least age 62 at time of closing. Residents of Utah and Texas must be at least
age 62 at time of closing for all products. 15