Page 12 - AAG097_Your Guide AAG Jumbo Booklet

4. Access Your Condo’s Home Equity

If you own a condominium, you will need to meet
specific FHA requirements in order to qualify for a
traditional reverse mortgage also known as a Home
Equity Conversion Mortgage (HECM). Because a
traditional reverse mortgage is a government-insured
loan, condominium projects need to be approved by
HUD before residents or buyers can acquire FHA loans –
this process can be quite lengthy.

However, with the Advantage Jumbo reverse mortgage
loan, AAG can now meet the needs of even more
consumers who own condominium property types,
even if they are not FHA-approved. Condo owners are
now able to access their home equity to get the better
retirement outcomes they desire.

AAG is:

Caring Driven Ethical

Learn more or speak with one of our
reverse mortgage professionals today.

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