No matter the loan scenario, Liberty has a solution that will fit you and your client’s needs. Beyond the core industry products, Liberty also offers our own proprietary jumbo, EquityIQ. Select each product below to learn more about each one. And remember, we are always available for a person-to-person consultation to help you get a head step on the next steps toward success.
A Home Equity Conversion Mortgage (HECM) is available as either an adjustable or fixed-rate loan. A HECM is insured by the Federal Housing Administration (FHA) and allows senior homeowners 62 and over to access part of the equity in their home to help them live more comfortably during retirement. With the adjustable rate, the rate is adjusted on a monthly cadence while the fixed-rate HECM maintains the same interest rate over the life of the loan.
Reverse For Purchase
A HECM for Purchase can help homeowners buy their next home without having to make monthly mortgage payments. This loan enables homeowners to use the equity from the sale of a previous residence to buy their next primary home in one transaction. Regardless of how long your clients live in the home or what happens to home value, there is only one, initial investment (down payment) towards the purchase.
Liberty’s proprietary reverse mortgage is designed to help owners of higher-value homes convert a portion of their home’s equity into the funds they need in retirement. It can be a smarter solution for homeowners aged 55+ than a tradition HECM, as it provides access to more funds, lower up-front costs with no morgage insurance premium and easier eligibility for home purchases.