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Call Your Reverse Specialist at BluEleven
HECM & Equity Elite® Reverse Mortgage
BORROWERS AGE 55+
Reverse mortgages are no longer reserved for homeowners aged 62 and older. Equity Elite® now offers reverse mortgages for 55+ borrowers in select states.
Those seeking lower up-front costs—Equity Elite® has no up-front or ongoing mortgage insurance premium, which can mean lower closing costs than a traditional reverse mortgage, saving you money on the loan.
MORE ACCESS TO
Say goodbye to reverse mortgage loan limits when you go with an Equity Elite® loan. You may be able to access even more of your equity than with traditional reverse mortgages on the market.
Safest Loan for American Homeowners Aged 55 & Older
Traditional reverse mortgages, also known as Home Equity Conversion Mortgages (HECMs), changed the game for longtime homeowners who wanted to access the valuable equity they’d built up over time. But HECMs have limitations on who can borrow and how much. With Equity Elite®, there are fewer reverse mortgage restrictions, and more people have more access to their home equity.
|Home Equity Conversion Mortgage (HECM)||
Equity Elite® Reverse Mortgage
|Minimum age to qualify||62||55 in selected state(s)|
|Limit on amount of proceeds you can take in the first 12 months||Yes||No|
(You’ll never owe more than the home is worth when the loan is paid)
|How much can be borrowed?||Less than $970,800||Up to $4 Million|
|Mortgage Insurance Premium cost||Upfront and ongoing||None|
|Condominium eligibility||FHA-approved condominium communities only||Community can be FHA-approved, Fannie Mae-approved or RMF-approved–so more condos qualify|
|Closing Costs||Lender closing costs apply||Equity Elite® Zero offers a lender credit to be applied towards most closing costs|
Call Your Reverse Mortgage Specialist to see what you qualify for.
Call us! (800) 671-6204
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