Reverse Mortgage Refinance

Could Your Existing Reverse Mortgage Work Better for You? 

If you already have a reverse mortgage, changes in your home value, age, interest rates, or available loan programs may create an opportunity to access additional home equity or improve your current financing. 

Why Consider Refinancing a Reverse Mortgage?

• Your home has increased significantly in value.

• You may qualify for additional proceeds.

• Your current reverse mortgage has been in place for several years.

• A newer HECM or proprietary reverse mortgage may provide different options.

• You want to evaluate whether your existing loan is still the best fit.

HECM-to-HECM Refinance

An existing FHA-insured HECM may be refinanced into a new HECM when the transaction meets current FHA requirements and provides the required benefit to the borrower. As part of the process, you'll receive disclosures that help you compare your existing reverse mortgage with the proposed new loan, including costs and potential additional proceeds. 

HECM vs. Proprietary Refinance

The best refinance option isn't necessarily another HECM. Depending on your home's value, available equity, age, financial goals, and current program guidelines, a proprietary reverse mortgage may also be worth considering. I'll help you compare the available options to determine which may provide the greatest benefit for your situation. 

Does Refinancing Make Financial Sense?

A reverse mortgage refinance should provide a meaningful benefit. I'll compare your existing reverse mortgage with the available options so you can see the potential proceeds, costs, and differences before deciding whether refinancing makes sense.