SecureEquity+ marks Mutual of Omaha Mortgage's entry into the proprietary reverse channel, offering expanded borrower eligibility guidelines compared to HECM. Borrowers aged 55 and older can access loans up to $4 million. This product aims to empower older homeowners with innovative financial solutions, allowing them to leverage home equity without monthly mortgage payments. Borrowers must reside in the home and fulfill financial responsibilities such as property taxes, insurance, and maintenance costs. Mutual of Omaha is the largest lender for HECM endorsements, with a strong industry presence and recent pushes into the proprietary market by other companies.
SecureEquity+ offers expanded borrower eligibility guidelines compared to the federally insured Home Equity Conversion Mortgage (HECM), available to borrowers as young as 55.
Loan amounts for SecureEquity+ can reach up to $4 million, empowering older homeowners with innovative financial solutions to take control of their financial future.
To qualify, borrowers must occupy the home as their primary residence and meet ongoing financial obligations like property taxes and homeowners insurance.
Mutual of Omaha holds the position of the nation's largest lender in terms of HECM endorsements, leading with a significant number of loans endorsed.
#reverse-mortgages #home-equity-conversion-mortgage #borrower-eligibility #financial-solutions #mutual-of-omaha
Collection
[
|
...
]