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It used to be that if you were age 62 or older, there were only two ways to get cash out of your home. You could sell it or you could borrow against your home equity.
But now, with reverse mortgages, seniors can tap into the home equity they've built up without moving or taking on extra debt.
If you're just starting out and want to learn more about reverse mortgages, read our brochures and fact sheets that describe each product. Our Find
a Counselor Search can help you locate a reverse
mortgage counselor in your area.
If you already know a reverse mortgage is for you, Fannie
Mae's publication, Money
from Home: A Consumer's Guide to Reverse Mortgage Options
(PDF), is a required counseling tool and an excellent source
of in-depth information on reverse mortgages for homeowners
ready to apply. The guide contains detailed information
on the Home Keeper® mortgage and the U.S.
Department of Housing and Urban Development-insured Home
Equity Conversion Mortgage (HECM). The publication also
has information to help you determine what type of reverse
mortgage is right for you, and worksheets to help you get
started.
After deciding to apply for a reverse mortgage, you should
speak to a Fannie Mae lender partner and request an application
form. Our list of Reverse
Mortgage Lenders (PDF) can help you find lenders
who offer the Home Keeper® Mortgage and
the FHA Home Equity Conversion Mortgage (HECM).
Fannie Mae does not lend money directly to consumers. Instead, we work with mortgage lenders to make sure they have money to lend. Lenders who work with Fannie Mae have a broad array of mortgages to offer consumers.
Last Revised: September 13, 2005
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