Mortgage Products

Mortgage Products

One Reverse Mortgage offers three types of home equity conversion mortgages, all of which are insured by the FHA. Aside from specific requirements of the loan, we can customize the loan to your individual needs.

Loan Option 1 - Line of Credit

The Line of Credit is an option that provides financial flexibility and is recommended by many financial advisors. The line of credit can be utilized in the following ways:

  1. You can take a lump sum at closing, receive monthly disbursements, or a combination of both. Using the proceeds from your loan could allow you to delay other retirement benefits* and access other investments, which allows them more time to increase in value.
  2. The earlier you start your line of credit, the more time it has to grow. You are not required to take any money at the time you start your line of credit. The amount of available funds grows over time, giving you more money to access in the future.
  3. The amount of available funds in your line of credit can grow to exceed the value of your home, and you or your heirs would not be responsible to repay more than what your home is worth.

Loan Option 2 – Fixed

The fixed rate loan disburses money in one lump sum after the loan closes and locks the interest rate in place at the time of closing. The interest rate is the same for the duration of the loan. This loan option is typically used to:

  1. Pay off mortgage balances, property liens, medical bills, and required home repairs.
  2. Pay for living expenses so your other investments and benefits have more time to grow in value.

Loan Option 3 - Purchase

Using a reverse mortgage, you can purchase a new home with no monthly mortgage payments required as long as you live there.** With this loan option, a larger down payment is required. Here are some things to know about this loan:

  1. Many people use this program to buy a home that is closer to family, in a warmer climate, or better suits their physical needs.
  2. The down payment is determined by age. The older you are, the less you have to put down.

Traditional Mortgage Options

For those who do not qualify for a reverse mortgage, we can also provide other solutions for situations that require a mortgage. We now offer competitive rates for traditional mortgages in most of the United States. If you are interested in learning more about these products, click .

Here are the mortgage products we offer.

Adjustable Rate Mortgage (ARM): Fixed interest rate for 5, 7, or 10 years, the interest rate may change once per year.

YOURgage: You choose the term of your mortgage. Fixed rate terms for anywhere between 8 to 30 years.

FHA Loan: Flexible. Affordable. Insured by the government and available in 30- or 15-year fixed rate or adjustable rate.

30-Year Fixed Mortgage: Payments based on interest rate, principal loan amount. Payment does not change through 30-year life of the loan.

15-Year Fixed Mortgage: Payments based on interest rate, principal loan amount. Payment does not change through 15-year life of the loan. Pay less interest than 30 year fixed.

Jumbo Loans: Mortgages for purchase or refinance over conventional loan limit and available up to $3,000,000.

FHA Streamline: Refinance program from the FHA helps you get a lower rate on your FHA mortgage.

At One Reverse Mortgage, our licensed specialists are here to answer questions and help with your decision. One of the great advantages of working with us is that your licensed specialist is with you throughout the entire process.

* Please consult your financial advisor.

** Homeowner is responsible for property taxes, homeowners insurance and maintenance of the property.

These advertisements and materials are not provided nor approved by the U.S. Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA).

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