Your Equity. Your Retirement Solution.
What is a Reverse Mortgage?
A reverse mortgage lets eligible homeowners, with some options starting at age 55, access a portion of their home equity with no required monthly mortgage payments. You keep ownership of your home, and the loan is generally repaid when you sell, move out, or the last borrower passes away.**
WAYS TO USE YOUR HOME EQUITY
What Can a Reverse Mortgage Do For You?
Eliminate Your Mortgage Payment*
Potentially free up monthly cash flow by paying off an eligible existing mortgage.
Enjoy Retirement & Major Purchases
Travel, purchase a vehicle, help family or fund other personal goals.
Pay Off Debt & Consolidate Bills
Use available home equity to address credit cards and other financial obligations.
Create a Line of Credit
Establish access to available home equity for current or future needs.
Home Repairs & Improvements
Make repairs, renovations, accessibility improvements or other updates.
Purchase Your Next Home
Buy your next home with no required monthly mortgage payment.*
Which Reverse Mortgage May Be Right for You?
HECM
The Traditional Reverse Mortgage
FHA-insured Home Equity Conversion Mortgage (HECM) for eligible homeowners age 62+, with several ways to access available home equity.
May be a good fit for: Homeowners wanting to eliminate an existing mortgage payment,* establish a line of credit, or access equity for retirement needs.
Private Reverse Mortgage
Options Potentially Starting at Age 55*
Private reverse mortgages may offer lower minimum ages, larger loan amounts, and more flexible eligibility options than HECMs.
May be a good fit for: Homeowners ages 55+,* higher-value homes, or borrowers whose needs aren't well served by a traditional FHA insured HECM.
Reverse Mortgage for Purchase
Buy Your Next Home - No Monthly Mortgage Payment*
Use a reverse mortgage to purchase your next home without paying 100% in cash, leaving more of your savings available for retirement. Starting age 55* if Non-HECM
May be a good fit for: Buyers who want to relocate, downsize, move closer to family, or keep more of their savings available for retirement instead of putting it all into their next home.
Reverse Second Mortgage
Access Equity Without Replacing Your First Mortgage
Access available home equity through a second lien while keeping your existing first mortgage in place.
May be a good fit for: Homeowners who want to access additional equity without refinancing or paying off their current first mortgage.
Could a Reverse Mortgage Work for You?
Every homeowner's situation is different. Explore your options based on your age, home value, mortgage balance and financial goals.
See Your Options
Answer a few simple questions to help us understand what you're looking for.
SIMPLE. CLEAR. STRAIGHTFORWARD.
How Does a Reverse Mortgage Work?
From exploring your options to closing, we'll guide you through each step and explain what to expect along the way.
1. Tell Us About Your Goals
Tell us about your home, current mortgage and what you'd like to accomplish.
2. Review Your Options
We'll compare available reverse mortgage programs and explain which options may fit your situation.
3. Choose Your Solution
If you decide to move forward, we'll guide you through the application, counseling, appraisal and underwriting process.
4. Close & Access Your Equity
Once your loan closes, your proceeds are distributed according to the reverse mortgage option you've selected.
RETIREMENT & HOME EQUITY OPTIONS
Retirement finances can change quickly. The loss of a spouse's income, rising living expenses, long-term care costs and unexpected expenses can dramatically change your financial picture.
Use home equity to reduce financial pressure and create more breathing room in retirement.
A reverse mortgage may help pay off an existing mortgage, credit cards, or other qualifying debt.
If one spouse passes away, household income can change quickly. A reverse mortgage strategy may help create additional financial flexibility before that happens.
Stay in the home you love while accessing a portion of the equity you’ve built over the years.
For couples, planning ahead can help make sure the surviving spouse understands their housing options and what may be required to remain in the home.
Home equity may provide added flexibility for future care costs, medical expenses, home modifications, or other major financial needs.
Common Reverse Mortgage Questions
Do I have to be 62 to get a reverse mortgage?
While FHA-insured HECM reverse mortgages generally require borrowers to be at least 62, some private reverse mortgage programs may be available starting at age 55.* Age requirements vary by program and state.
My spouse is younger than me. Can we still qualify?
Yes, potentially. Both spouses do not necessarily have to meet the minimum age requirement. Depending on the program and state laws, a younger spouse may be included as a non-borrowing spouse or otherwise accommodated. Eligibility and protections vary by loan program and by state.
Do I still own my home with a reverse mortgage?
Yes. You keep ownership and title to your home. A reverse mortgage is simply a loan secured by the property. You must continue meeting loan requirements such as paying property taxes, homeowners insurance, and maintaining the home (similar to *any mortgage).
What happens to the loan when I pass away?
The reverse mortgage generally becomes due after the last borrower passes away, sells the home, or permanently leaves the property. Heirs can typically sell the home, repay the loan and keep remaining equity, or explore options to keep the property (similar to any mortgage).
Can my children still inherit my home?
Yes. Your heirs can still inherit the home. They may choose to repay the reverse mortgage and keep the property or sell the home, repay the loan balance, and generally retain the remaining equity. All mortgage types works this way of course.
Can I sell my home if I have a reverse mortgage?
Yes. You can sell your home whenever you choose. The reverse mortgage is paid from the sale proceeds, just like any mortgage, and remaining equity belongs to you after applicable costs and liens are paid.
Can I pay off a reverse mortgage early?
Yes. Reverse mortgages generally do not have a prepayment penalty. You can make voluntary payments or repay the loan in full at any time.
Can I use a reverse mortgage to buy another home?
Yes. Certain reverse mortgage programs can be used to purchase a new primary residence. This may allow you to buy your next home without paying 100% of the purchase price in cash, leaving more of your savings available for retirement.*
Could a Reverse Mortgage Work for You?
Every homeowner's situation is different. Explore your options based on your age, home value, mortgage balance and financial goals.
See Your Options
Answer a few simple questions to help us understand what you're looking for.
MEET YOUR REVERSE MORTGAGE BROKER
Arcane Financial Solutions
Joshua Nelms | Mortgage Loan Originator | NMLS #1557510
Mortgage services provided through Barrett Financial Group, L.L.C. | NMLS #181106
Barrett Financial Group, L.L.C. | NMLS #181106
Clear Guidance. Real Reverse Mortgage Experience.
With more than a decade of mortgage experience, Joshua Nelms specializes in helping homeowners understand their reverse mortgage options without the confusion or pressure. Whether your goal is to eliminate a mortgage payment,* access home equity, prepare for retirement, or purchase your next home, the focus is simple: help you understand your options so you can make an informed decision.
Joshua Nelms | NMLS #1557510 | Arcane Financial Solutions Powered by Barrett Financial Group, L.L.C. | NMLS #181106 | 2701 East Insight Way, Suite 150, Chandler, AZ 85286 | AL 22977 | AZ 0904774 | MD 181106 | Equal Housing Opportunity | Equal Housing Lender | This is not a commitment to lend. All loans are subject to credit approval. | NMLS Consumer Access | Visit Barrett Financial Group’s Website
