What kind of a reverse mortgage Fannie Mae offers?


There are two options for a reverse mortgage Fannie Mae offers to consumers:

  • the Fannie Mae Home Keeper® reverse mortgage program
  • the HUD-insured Home Equity Conversion Mortgage (HECM)

Individual borrowers should contact a lender to learn about the current terms of Fannie Mae reverse mortgage programs.

Also, senior homeowners contemplating a Fannie Mae or other reverse home loan program are encouraged to consult a financial or tax advisor, or accountant, to discuss which financial product best applies to their personal circumstances.

Fannie Mae's Reverse Mortgages

Fannie Mae have designed their own HomeKeeper reverse mortgage. Also, Fannie Mae approved lenders are required to offer HECMs along with the Fannie Mae HomeKeeper reverse mortgage. The Home Equity Conversion program (HECM) is developed by the U.S. Department of Housing and Urban Development (HUD). The HECM reverse mortgage is insured by the Federal Housing Administration (FHA). Fannie Mae's reverse mortgages allow you to select a flexible payment plan of your choice - in a lump sum or regular payments.

No repayment of the reverse home loan is required until you no longer occupy your property - in case of house sale, death, or you happen to live somewhere else for more than 12 months. When repayment of the reverse mortgage becomes due, you will owe the loan balance or the market value of the property - whichever is less.

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