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An American Advisors Group (AAG) Home Equity Conversion Mortgage (HECM) loan
How Does it Work?
With a reverse mortgage loan, you can
continue to live in your home, retain
ownership and will not be required to make
any monthly mortgage payments* during
the loan period. Instead of repaying the
loan monthly, the loan is secured by a lien
on the home. You can remain in the home
as long as you live in the home as your
primary residence and continue to pay for
property taxes, home insurance and home
maintenance or otherwise comply with the
loan terms.
How do you qualify?
You must be age 62 or older and, if you are
married, a non-borrowing spouse may be
under age 62. You must be the homeowner
with equity in the home as well as occupy
it as your primary residence. A financial
assessment is required as a safeguard to
you to be sure that in the future you will be
able to comply with the loan terms.
can help you access the equity in your home to help you pay for in-home care.
What is a HECM Reverse
Mortgage Loan?
Home Equity Conversion Mortgages
(HECMs), also known as reverse mortgage
loans, were created to help Americans age
62 and older convert a portion of their home
equity into tax-free cash**. HECM reverse
mortgage loans are insured by the Federal
Housing Administration (FHA) and may
allow seniors to age in place and achieve
retirement security.
Visit us today at AAG.com/VisitingAngels
How a HECM Reverse Mortgage Why Choose AAG?
Loan can help you:
+ AAG is the #1 reverse mortgage lender in
+ Eliminate monthly mortgage payments* the nation
and free up funds to help pay for vital in-
home care *Borrowers must continue to pay + AAG is fully accredited by the Better
for property taxes, homeowners insurance Business Bureau
and home maintenance costs. + AAG is a U.S. Department of Housing
+ Pay for home updates and modifications and Urban Development (HUD) Approved
to help you age in place comfortably Lender
+ AAG is a member of the National Reverse
+ Have funds readily available when Mortgage Lenders Association (NRMLA)
unexpected expenses occur
+ Keep as a growing line of credit for a rainy
day
+ Receive tax-free** proceeds as a
lump sum or monthly payments, or a
combination of the two **Consult your tax
advisor