Happy senior couple enjoying their home
    Secure Your Retirement

    Unlock the Equity in Your Home

    Discover how a Reverse Mortgage can provide financial freedom, eliminate monthly mortgage payments, and help you enjoy the retirement you deserve.

    Understanding HECM

    What is a Reverse Mortgage?

    A , commonly known as a reverse mortgage, is an loan that allows homeowners aged 62 and older to convert a portion of their home equity into cash.

    Unlike a traditional mortgage where you make monthly payments to a lender, with a reverse mortgage, the lender makes payments to you. The loan is typically not repaid until you sell the home, move out, or pass away.

    • No monthly mortgage payments required
    • Proceeds are generally tax-free
    • You retain ownership of your home
    • Choose how you receive your funds
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    Why Choose HECM

    Benefits of a Reverse Mortgage

    Financial Freedom

    Supplement your retirement income, pay off medical bills, or fund home renovations. The money is yours to use as you see fit.

    Stay in Your Home

    You continue to own your home and can live in it for as long as you meet the loan requirements, like paying taxes and insurance.

    Non-Recourse Loan

    You or your heirs will never owe more than the home's appraised value when the loan becomes due, thanks to FHA insurance.

    Do You Qualify?

    Basic eligibility requirements for a Reverse Mortgage:

    At least one borrower must be 62 years of age or older
    The home must be your primary residence
    You must have significant equity in the home
    You must not be delinquent on any federal debt
    You must participate in an informational counseling session
    You must continue to pay property taxes and insurance

    The Process

    How HECM Works: Step-by-Step

    Getting a Reverse Mortgage is straightforward. Here is what you can expect from start to finish.

    Consultation & Counseling

    Est. Time: 1-2 Weeks

    Speak with a licensed specialist to discuss your goals. Then, complete a required counseling session with an independent, HUD-approved counselor to ensure a HECM is right for you.

    Step 1 of 5

    Application & Appraisal

    Est. Time: 2-3 Weeks

    Submit your formal application. An independent FHA-approved appraiser will then evaluate your home to determine its current market value, which helps calculate your loan amount.

    Step 2 of 5

    Underwriting & Processing

    Est. Time: 1-2 Weeks

    Our team processes your loan, verifying that you can maintain property taxes and homeowners insurance. We also clear the title and prepare your file for final approval.

    Step 3 of 5

    Closing

    Est. Time: 1 Week

    Once approved, we'll schedule a closing date. A notary can often come directly to your home so you can sign the final paperwork in comfort.

    Step 4 of 5

    Funding & Disbursement

    Est. Time: 3-5 Days

    After a mandatory 3-day right of rescission period, your loan funds. Existing mortgages are paid off, and you receive your remaining proceeds according to your chosen plan.

    Step 5 of 5
    Calculate Your Equity

    Reverse Mortgage Estimator

    Find out approximately how much tax-free cash you could unlock and project your loan balance over time.

    Reverse mortgage pays off this balance first.

    Estimated Available Funds

    $140,000

    Tax-free cash available to you

    Est. Principal Limit $240,000
    Mortgage Payoff-$100,000
    Based on these estimates, your current mortgage balance exceeds the estimated principal limit. You may need to bring cash to close to qualify.

    *This calculator provides a rough estimate for educational purposes only and is not a quote or offer of credit. Actual available funds will depend on current interest rates, exact age, and a formal FHA appraisal.

    * Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

    Common Questions

    Frequently Asked Questions

    Everything you need to know about Reverse Mortgages.

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    Important Legal Information: These materials are not from HUD or FHA and were not approved by HUD or a government agency.

    A Reverse Mortgage (Home Equity Conversion Mortgage or HECM) is a home-secured loan that must be repaid upon default or a maturity event, such as when the last surviving borrower passes away, sells the home, or no longer lives in the home as their primary residence.

    Borrowers must continue to pay property taxes, homeowner's insurance, and maintain the property. Failure to meet these requirements can trigger a loan default that may result in foreclosure. Borrowers must be at least 62 years old. Loan proceeds are generally tax-free, but you should consult a tax professional for your specific situation.