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GET STARTED NOWAt American Financial Solutions, our HUD-certified housing counselors are here to guide you through the reverse mortgage process. If you're considering a Home Equity Conversion Mortgage (HECM), we’ll help you understand the benefits and risks of the mortgage, payment options, responsibilities of the homeowner, potential costs, and tax implications. After completing your counseling session, you’ll receive the certificate required by lenders as part of the loan application. Contact us today to get started. Counseling is available in English and in Spanish.
| CONTACT AFS | EXTERNAL RESOURCES | |
| 888-864-8699 | ||
| housing@myfinancialgoals.org | ||
| Download our HECM Fee Policy here. |
A reverse mortgage—also known as a Home Equity Conversion Mortgage (HECM)—allows homeowners aged 62 and older to borrow against their home’s equity.
To be eligible for a reverse mortgage (HECM), the home must be your primary residence, meaning you live there more than half the year. Vacation homes or secondary residences do not qualify for a reverse mortgage. You don’t need to own your home free and clear, but the reverse mortgage must provide enough funds to fully pay off any existing mortgage balance.
Borrowers must be able to stay current on property taxes, homeowners insurance, and necessary home maintenance. If the home currently needs major repairs, those will need to be completed prior to the reverse mortgage closing. However, minor repairs can be completed using the funds.
What to Expect from HECM Counseling
Before moving forward, HUD requires all borrowers to complete a counseling session with an approved agency like ours. Our goal is to help you make an informed decision with confidence and clarity.
Your HECM counseling session is an educational session and will cover:
Our counselors are HUD-certified and impartial. We do not sell mortgage products or benefit from your decision.
Who Should Attend
Counseling is required for all borrowers listed on the property title and may include a family member or trusted advisor if you choose. Non-borrowing spouses must also attend. You may also choose to have heirs or trust beneficiaries in attendance.
How to Schedule Your Session
Required docments include:
Suggested information to have available:
After the Counseling
After the session, you’ll receive a certificate of completion, which you can provide to your lender. This does not obligate you to move forward with a reverse mortgage, it simply confirms you’ve completed the education.
Why Choose Us
Browse our recent blog articles and you will see and learn about the various ways AFS can help you, as well as educate yourself.
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A reverse mortgage—also known as a Home Equity Conversion Mortgage (HECM)—allows homeowners aged 62 and older...
A reverse mortgage—also known as a Home Equity Conversion Mortgage (HECM)—allows homeowners aged 62 and older...
Find out where to check your credit score for free and what type of score you’ll see.
Call us at (888) 864-8548
and your counselor will review your credit report, analyze your financial situation and help you find the option that's best for you.
