The HECM program provides lump sum cash out, tenure monthly payment, term monthly payment, or line of credit (or any combination) as long as the borrower lives in their home.
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Only FHA-approved Indymac Sellers can originate the Home Equity Conversion Mortgage program.
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Non-FHA approved sellers can participate in our HECM Advisor Program.
Click here for more information on the program.
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Features and Benefits:
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| · | Maximum Lending Limit based on county-specific FHA guidelines |
| · | Government Insured Program |
| · | Available to homeowners 62 or older |
| · | Fixed and adjustable rate product options are available |
| · | Unused balance on line of credit grows annually |
| · | Loan origination and closing costs may be financed by the loan |
| · | Counseling by an approved HUD counselor is required |
| · | Social Security or Medicare eligibility may not be affected. (Consult the Social Security Administration and your tax advisor) |
| · | No income qualifications |
| · | Loan proceeds are tax-free1 |
