ENJOY YOUR RETIREMENT ON YOUR TERMS
Eligibility Requirements:
Be 55 or older (age requirements vary by state; 62 required in TX and UT)
Must occupy the home as your primary residence
Complete a HUD-approved counseling session
Keep property taxes, homeowners insurance, and any HOA fees current
Financial assessment required
* In Texas, both borrowers must be 62 or older.
• Eliminate monthly mortgage payments*
• Cover medical or in-home care expenses
• Home improvements
• Debt consolidation
• Purchase a new home
• Supplement fixed monthly income
• Condominium financing available
• No Mortgage Insurance Premium charges at closing & no monthly Mortgage Insurance.
*Must maintain home as primary residence & keep homeowner's insurance, property taxes & HOA dues current
Program availability and options vary by state