Reverse mortgage loans

(aka, HECM)

A reverse mortgage lets homeowners aged 62 and older convert their home equity into tax-free cash – without giving up ownership or making monthly payments.

At Haven, we provide reverse mortgage solutions designed to ease financial pressure, support retirement planning or caregiving services, and help you stay in the home you love.

Check how much equity you can access
  • No credit check
  • No obligation

Why consider a reverse mortgage?

For many homeowners, the goal isn’t to move – it’s to stay.

To stay in a familiar home, in a supportive neighborhood, without sacrificing financial security or independence.

That’s where reverse mortgage solutions can help provide an alternative to moving into an expensive seniors residence for example.

Whether you’re managing rising property-related charges, navigating caregiving responsibilities, or simply looking for more financial flexibility, this tool gives you the power to stay in control – and stay in your home – without monthly mortgage payments or downsizing.

As a nationwide servicer, Haven can help you use what you’ve built to plan the next chapter on your own terms.

What is a reverse mortgage?

A reverse mortgage – also known as a home equity conversion mortgage (hecm) – is an insured loan backed by the u.s. Federal government. It allows a borrower aged 62 and older to convert their home equity into tax-free cash.

With a reverse mortgage, no monthly mortgage payments are required. The loan is typically repaid when you move, sell your home, or pass away. You remain the homeowner and stay on the title.

Unlike traditional home loans, reverse mortgage solutions don’t require income or credit qualification. This makes them a helpful option for seniors on a fixed income or those looking to improve monthly cash flow.

You can use the funds for property-related charges, medical expenses, home upgrades, or simply to create more breathing room financially.

Key advantages of a reverse mortgage:

Reverse mortgages aren’t just for retirees looking to boost their income. They’re a mortgage solution that supports a wide range of financial situations.

Common reasons homeowners turn to a reverse mortgage include:

  • Eliminating monthly payments to free up cash flow
  • Avoiding high-interest credit or personal debt
  • Making home upgrades or repairs
  • Covering long-term care or medical costs
  • Delaying Social Security for increased future benefits
  • Supporting family or easing caregiving costs

Many Haven clients choose a reverse mortgage not out of desperation but to stay in control and access what they’ve built on their terms.

I just wanted to feel secure again. I didn’t want to worry about every dollar.

Haven client (identity protected)

Who typically uses a reverse mortgage?

At Haven, we help homeowners use their property strategically to improve long-term stability without sacrificing independence or legacy.

A reverse mortgage may be right for you if you’re looking to free up monthly cash, stay in your current home, or use your equity as a buffer against rising costs.

You and your spouse may want to consider a reverse mortgage if you:

  • Are 62+ and want more financial flexibility
  • Have equity but limited income
  • Want to stay in your current home without downsizing
  • Need to offset healthcare or caregiving costs
  • Hope to help a loved one without incurring new debt

At Haven, we help you review your options clearly and supportively, so you can plan from a place of stability, not pressure.

I wanted to make sure I could take care of my kids without putting myself deeper in debt.

Haven client (identity protected)

Ways to use a reverse mortgage

A reverse mortgage isn’t just for seniors but depending on your situation, it can be a good alternative to a cash-out refinance. In fact, it’s one of the most flexible mortgage solutions available for turning the value of a property into real-world financial breathing room.

Many homeowners use their reverse mortgage money to:

  • Paying off an existing mortgage or combining balances
  • Managing property related charges like taxes or insurance
  • Making accessibility upgrades (e.g., ramps, stairlifts)
  • Delaying withdrawals from retirement savings
  • Providing financial help to family (e.g., home purchase)
  • Covering long-term care or medical costs

Just keep in mind, there are no restrictions on use. It’s your money and your choice.

My income dropped unexpectedly and I needed help keeping up with everything.

Haven client (identity protected)

Reverse mortgage loans for adult children & caregivers

If you’re helping a parent or spouse explore their options, you’re not alone. Many of our reverse mortgage consultations include adult children and family caregivers.

After all, choosing whether to stay in the family home isn’t just a financial decision; it’s deeply emotional. Sp we understand how complex these decisions can be.

We provide:

  • Clear answers to your top questions

  • A supportive, no-pressure consultation process

  • Educational resources to help plan together

For a deeper look at how a reverse mortgage affects caregiving and family finances, read our reverse mortgage blog post.

Why choose Haven for your reverse mortgage?

Most lenders offer reverse mortgages but very few take the time to explain how they actually work or how they fit into your full financial picture.

At Haven, we go beyond the interest rate or closing costs. We help you look at the blended rate across your debts, assets, and future plans.

This way, instead of taking on unnecessary debt, you’re making a decision that supports long-term financial stability.

Haven is a nationwide servicer that offers:

  • Clear, pressure-free conversations

  • Guidance that includes adult children or caregivers

  • Strategic advice that helps avoid costly finance decisions

Remember

Like you, our advisors are thinking in terms of longevity. We help you use reverse mortgage solutions not just as access to funds right now, but as a smarter way to create financial flexibility and peace of mind for the future.

They helped me use what I had, not borrow more than I needed.

Haven client (identity protected)

How does a reverse mortgage work?

A reverse mortgage lets you access the value of your home through a government-insured loan. If you still have a mortgage, it’s paid off first and the remaining loan proceeds are made available to you.
You can choose how to receive the funds: a lump sum, monthly disbursements, a line of credit, or a combination. Interest accrues over time and the balance is typically repaid when you move, sell your home, or pass away.

What stays the same:
  • You remain on the title
  • You’re still responsible for taxes, insurance, and maintenance
  • You can stay in your home as long as it’s your primary residence

Reverse mortgage solutions offer flexibility and control but understanding the details is key. That’s why it’s important to have more than just a good loan officer. At Haven, you get a team of specialists working together – all looking out for your best interests.

Reverse mortgage loan requirements

To qualify for a reverse mortgage, you must:

  • Be 62 years of age or older
  • Own your home and live in it as your primary residence
  • Have enough value in your home to meet program guidelines
  • Stay current on property taxes, insurance, and basic maintenance

These requirements are designed to help you stay in control – and stay in your home – without unnecessary financial pressure.

Reverse mortgage myths & misconceptions

Whether it’s referred to as a home equity conversion mortgage (HECM) or reverse mortgage, there’s a lot of confusion surrounding this type of refinance compared to traditional mortgages.

Let’s clear things up so you can decide with confidence:

  • Myth: “i’ll lose ownership of my home.”False. you stay on the title, and the home remains yours. This is still your mortgage, just structured differently.

  • Myth: “my kids won’t inherit anything.”Not true. Your heirs can still inherit the property or any remaining value after the mortgage is repaid to the lender.

  • Myth: “i’ll owe more than my home is worth.”Not with a reverse mortgage. HECM loans are federally insured and non-recourse, meaning you’ll never owe more than the appraised value of the home at sale.

  • Myth: “this is only for people in financial crisis.”Many financially stable borrowers use reverse mortgage solutions as part of a smart long-term plan to pay off money owed, increase monthly funds, or delay drawing down retirement savings.
And here’s what you should really know:
  • You can access funds now without selling investments.
  • You won’t make payments each month on the reverse mortgage.
  • The loan payoff typically happens when you move, sell the home, or pass away.

A reverse mortgage isn’t a last resort. It can be a smarter way to stay in your house and access funds without draining your savings.

I wasn’t just another number; they actually listened and helped.

Haven client (identity protected)

FAQs about Reverse mortgage loans

Yes. You (or your spouse) remain the legal borrower and stay on the title. The mortgage is simply repaid later, typically when the home is sold or no longer your primary residence.

You don’t make monthly payments on a reverse mortgage. The repayment typically happens when you move, sell the home, or pass away. Most often, the money comes from selling the home, and any remaining equity goes to your heirs.

Yes. A reverse mortgage is insured by the FHA and federally regulated. You’ll receive mandatory counseling before proceeding, so you understand the terms. As long as you pay property taxes, insurance, and maintain the home, you can live there for life.

Your heirs have options. They can repay the loan and keep the home, or sell it and use the proceeds to cover the balance. If the sale doesn’t cover the full amount, no one owes the difference. That’s one of the key protections built into a reverse mortgage.

No. These benefits are not income-based, so getting a reverse mortgage won’t affect your eligibility. You can access funds without losing coverage.