Improve your customers’ cash flow with Equity Elite ®
Like a HECM, Equity Elite ® does not require monthly principal or interest payments as long as the loan obligations are met.* So borrowers can tap into a new source of funds without burdening their cash flow.
Proceeds from the loan can be used for: n Refinancing an existing mortgage(s) n Buying a new home or renovating an existing one n Paying for medical expenses, in-home care services and/or long-term care n Philanthropy and gifting n Consolidating debts such as high-interest credit cards, auto loans, etc.
We’ve Expanded Your Customers’ Eligibility
Age 60 † or older Plans to live in the home as the primary residence Able and willing to pay for property taxes, homeowners insurance, and maintenance Sufficient home equity
Single-family homes Condominiums that are FHA, ‡ Fannie Mae or RMF-approved Planned Unit Developments (PUDs) Two to four-family homes—must be owner-occupied, with prior landlord experience only
*As with any mortgage, the borrower must meet their loan obligations, keeping current with property taxes, insurance, and maintenance. † Not applicable in all states; some states may impose a higher age requirement. Visit www.reversefunding.com/equity-elite for details. ‡ This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency .
3 | Create More Options for More Customers with Equity Elite ®
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