Reverse Mortgages (HECM) in Pennsylvania, Missouri, and Puerto Rico

A reverse mortgage — most commonly the FHA-insured Home Equity Conversion Mortgage (HECM) — lets homeowners aged 62 and older convert part of their home equity into cash, a credit line, or monthly payments, without selling the home or making monthly mortgage payments.

The loan is repaid when the homeowner sells, moves out permanently, or passes away. Borrowers remain responsible for property taxes, insurance, and upkeep.

Benefits of a reverse mortgage

• No monthly mortgage payments required
• Stay in your home while accessing its equity
• Funds available as a lump sum, credit line, or monthly draw
• FHA-insured HECMs include borrower protections and required counseling

What to consider

• The loan balance grows over time as interest accrues
• Heirs settle the loan, usually by selling or refinancing the home
• Property taxes, insurance, and maintenance remain your responsibility

Ready to explore reverse mortgages (hecm)? Jose Roman can walk you through eligibility, compare options, and get you pre-approved in Pennsylvania, Missouri, and Puerto Rico.

Jose Roman, Team Leader at NEXA Lending LLC.. NMLS #714431. Call (484) 364-1236.