Reverse Mortgage (HECM)

Retirement Loans for Homeowners 62 and older

A Reverse Mortgage enables homeowners 62 years of age and older, to borrow against the equity in their homes without having to sell the home, give up the title, or take on a new monthly mortgage payment. The equity can be used as a lump sum payout, a line of credit, or even as a monthly payment to you! You can use the payments for anything you like, but you must continue to maintain the home, pay your home’s insurance and property taxes.

Reverse Mortgages get their name because you get paid versus you paying the lender. You do not have to pay back the loan while you live in the home, continue to maintain it, and pay the insurance and property taxes. However, the loan must be paid off when the owner no longer lives in the home. Typically families sell the home when the owner no longer lives there.

It’s important to note Reverse Mortgages are loans, and carry monthly interest charges, fees and other costs but they are simply added to the loan balance versus paid by the borrower (owner of the home). We counsel homeowners to not use these loans too early in retirement and risk depleting their equity too soon. Your home equity decreases over time while the loan balance increases. In some cases, the value of that loan exceeds the value of the home and will result in the borrower (or his/her estate) not having any proceeds when the home is sold.

James B. Nutter & Company originated the very first FHA Reverse Mortgage in 1989. Come home to a company that’s been in business since 1951 and treats you like family. We would be happy to discuss your options with you. Give us a call and we will gladly answer all your questions.
Call Today 1-800-313-REFI (1-800-313-7334).

If in the Kansas City area, call locally at 816-531-2345.

Office Hours: 8:15 a.m. – 5 p.m. (Monday – Friday) (CDT)

Other Useful Links From HUD (U.S. Department of Housing and Urban Development)

on FHA Reverse Mortgages:

FHA Reverse Mortgages (HECMs) for Consumers
Frequently Asked Questions about HUD’s Reverse Mortgages

Try the Reverse Mortgage Calculator to consider possibilities.

NOTICE: A REVERSE MORTGAGE IS A LOAN THAT MUST BE REPAID. Subject to age and property qualifications. Borrower responsible for property tax and homeowners insurance payments. Borrower must occupy property. James B. Nutter & Company will provide a complete list of terms and restrictions, options and benefits.


Contact Us (800) 875-7334