Reverse Mortgage Wholesale Lender

It is important to explore all wholesale options of Reverse Mortgages. Remember the HECM has a couple different version that could save you and provide additional money. The FHA reverse mortgage wholesale product is called the Home Equity Conversion Mortgage, or HECM. The maximum you may borrow against your home in this program is about $600,000, but your limit will depend on your home's location. The HECM is the reverse mortgage wholesale product underlying over 90% of all US reverse mortgages.

Both the FHA and HUD--the Department of Housing and Urban Development--guarantee FHA reverse mortgage wholesale loans. The guarantee means that the borrower is assured of getting the amount promised, and that the lender is assured of getting the entire principal and accrued interest when the loan is terminated, even if the home is sold for less than that amount.