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HECM Reverse Mortgages

Tax free money and long-term, financial peace of mind.

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If you (or a loved one) are 62 years or older and a homeowner, then a HECM Reverse Mortgage may be worth considering to secure financial stability and freedom in retirement.

Reverse Mortgages may also provide a source of tax free money.

  • Purchase or Refinance
  • Pay off your existing mortgage*
  • Receive monthly payments
  • Pay off debt or medical expenses
  • Improve your finances or lifestyle
  • Monthly mortgage payments eliminated*

A HECM Reverse Mortgage differs from an existing one in many important respects, so we strongly advise you to review our FAQs, then speak with our mortgage company, Community Mortgage Funding LLC, and a tax advisor for impartial advice before making any decisions.

Click here to learn more or apply, or call CMF directly 877.915.3030, option 4 to speak to a loan officer to discuss your options.

Financing is available in the following states: AZ, CA, CO, KS, MI, OH, OK, OR, NV, TX, WA.

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Reverse Mortgage FAQs

*If you qualify and your loan is approved, a HECM Reverse Mortgage must pay off your existing mortgage(s). With a Reverse Mortgage, no monthly mortgage payment is required. Borrowers are responsible for paying property taxes and homeowner’s insurance (which may be substantial). We do not establish an escrow account for disbursements of these payments. Borrowers must also occupy home as primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan must be paid off when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, or does not comply with the loan terms. A Reverse Mortgage increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). These materials are not from HUD or FHA and were not approved by HUD or a government agency.  

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National Credit Union Administration

This Credit Union is federally insured by the National Credit Union Administration. This Credit Union is an Equal Housing Lender, we make loans without regard to race, color, religion, national origin, sex, handicap, or familial status.

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© 2019 Farmers Insurance Group Federal Credit Union.

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