While many independent reverse lenders offer proprietary reverse products, the HomeSafe line is offered by Finance of America Reverse, the largest wholesale reverse lender as well as AAG, the nations largest reverse mortgage lender.
The primary benefit of the HomeSafe loan is that it provides for loan amounts higher than a Home Equity Conversion Mortgage – up to $3 million with home values up to $10 million.
It also has no monthly mortgage insurance premiums as well as competitive interest rates to other jumbo mortgages.
Another benefit offered is fees that can be rolled into the loan with little to no out-of-pocket costs, to include zero origination fees and closing costs paid by the lender, except counseling fees, state fees and owners title insurance.
