Government
FHA Reverse Mortgages
Unlock the equity in your home and enjoy a more secure retirement with an FHA Reverse Mortgage from CMRE. This government-insured loan program allows homeowners aged 62 and older to access their home's value without selling, all while continuing to live in their home. With interest rates starting at 6.25%, an FHA Reverse Mortgage can provide the financial flexibility you need.
Program Benefits
Access tax-free cash from your home equity.
Eliminate monthly mortgage payments; you are only responsible for property taxes, homeowners insurance, and upkeep.
Maintain ownership and control of your home.
Use the funds for any purpose, such as healthcare, home improvements, or travel.
Interest rates starting at 6.25% can provide predictable costs.
FHA insurance protects you and your heirs.
Program Highlights
Max LTV
96.5%
Min Credit Score
580
Max DTI
N/A
Loan Amount Range
Varies based on home value and borrower age
Amortization Options
Eligible Properties
- Single Family Home
- Townhouse
- FHA-Approved Condominium
- Manufactured Home (meeting FHA requirements)
Program Requirements
Income Documentation
- •Sufficient income to pay property taxes and homeowners insurance.
- •Verification of income sources, such as Social Security, pensions, or retirement accounts.
- •Ability to maintain the property according to FHA standards.
Asset Verification
- •Assets to cover closing costs and any initial draws from the loan.
- •Verification of assets, such as bank statements and investment accounts.
- •Sufficient assets to cover ongoing property charges if income is insufficient.
Insurance & Title
- •Must maintain homeowners insurance throughout the life of the loan.
- •Must pay property taxes on time.
- •FHA Mortgage Insurance Premium (MIP) is required.
Property Requirements
- •Minimum FICO score of 580 required.
- •Satisfactory credit history with no recent foreclosures or bankruptcies.
- •Must demonstrate a willingness and ability to meet financial obligations.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
When you move out or sell your home, the loan becomes due and payable. The proceeds from the sale are used to repay the outstanding loan balance, including principal, interest, and any fees. Any remaining equity belongs to you or your estate.
Your heirs will not be personally liable for the debt. The loan is secured by the home, and the home is used to repay the loan. If the home is worth less than the outstanding loan balance, the FHA insurance covers the difference, protecting your heirs from owing more than the home's value.
Yes, you can use an FHA Reverse Mortgage to pay off an existing mortgage. This can eliminate your monthly mortgage payments and free up cash flow.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
