Chances are you have encountered customers who were eligible for and interested in a reverse mortgage but balked at the very mention of the up-front and ongoing costs associated with a HECM. That’s why we created Equity Elite ® ZERO. The ZERO reverse mortgage eliminates almost all closing costs through lender credits, and may have lower interest rates.* Equity Elite ® ZERO—a new choice for cost averse customers
Which reverse mortgage is right for your customers?
Equity Elite ®
Minimum age to qualify Limit on amount of proceeds that can be taken in the first 12 months Non-recourse feature Amount that can be borrowed Mortgage Insurance Premium cost
NO YES Up to $4 million || NONE FHA, Fannie Mae or RMF-approved
Less than $765,600 Up-front and ongoing
FHA-approved ‡ only
*With this pricing option, borrower receives a lender credit covering nearly all closing costs. There is a non-refundable independent counseling fee of approximately $125 on average, which the borrower pays directly to the counseling agency. Terms and conditions apply. Not available in all states. † 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. || Not applicable in all states; MA imposes a maximum loan amount of $1.5MM. Visit www.reversefunding.com/equity-elite for details.
5 | Create More Options for More Customers with Equity Elite ®
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