FAQ Reverse Mortgage Information | Finance of America Reverse

A A A

Velocify User ID
Let's get to work on retirement

We are here to answer all your questions.
What are you looking for?*
- I want to start a reverse mortgage application
- I want to understand retirement tools and what’s right for me
First Name*
Last Name*
Zip Code*
Zip Code
State*
State
Are You 62 or Older?*
- Yes
- No
What is the Value of Your Home?*
How would you prefer to be contacted?*
- Give me a call
- Email me more information
Email Address*
Phone Number*
GA Campaign
Device Info
SEM Values
Thank you for your interest! Please call us at 855-421-4745 for more information on how we can help!

FAReverse LLC i/l/t/n Finance of America Reverse LLC is Licensed Mortgage Banker in the State of New York, but this site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.
Untitled
- First Choice
- Second Choice
- Third Choice
Phone
This field is for validation purposes and should be left unchanged.

By submitting this request for information, I hereby provide my signature, expressly consenting to receive information by email or phone, via automated dialing systems, texting, and/or prerecorded messages,  from or on behalf of Finance of America Reverse LLC and its fulfillment partners and may agree to receive other offers on the telephone number I provided above, including my wireless number, even if I am on a State or Federal Do-Not-Call list. I understand consent is not a condition of purchase and that I may revoke my consent at any time. I can revoke consent by calling FAR customer service at 855-421-4745, or contacting my loan officer.

Click here for our Privacy Policy and Notice at Collection

Is HomeSafe available in my state?

HomeSafe products are offered in the following states.

HomeSafe Standard

Arizona
California
Colorado
Connecticut
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Louisiana
Massachusetts
Michigan
Minnesota
Nevada
New Jersey
New York
North Carolina
Ohio
Oregon
Pennsylvania
Rhode Island
South Carolina
Texas
Utah
Virginia
Washington

HomeSafe Select

California
Colorado
District of Columbia
Florida
Georgia
Hawaii
Illinois
Minnesota
New Jersey
Nevada
North Carolina
Oregon
Rhode Island
South Carolina
Texas
Utah
Virginia

How is HomeSafe different from a traditional reverse mortgage?

HomeSafe loan limits are higher than the government insured HECM loans, up to four million dollars, while offering similar protections and features to the borrower.
HomeSafe borrowers enjoy no mortgage insurance premiums, competitive fixed interest rates and no out-of-pocket funds required beyond the appraisal (except for purchase).

Can I still use Silvernest if I don’t have a FAR loan?

Yes you can! Please visit Silvernest to sign up and connect with your new housemate.

How do I get Silvernest services if I’m a FAR borrower?

If you already have a reverse mortgage with FAR, sign up here (https://www.silvernest.com/far) for your complimentary services.

Previous Page

These materials are not from HUD or FHA and were not approved by HUD or a government agency.

©2022 Finance of America Reverse LLC is licensed nationwide | Equal Housing Opportunity | NMLS ID # 2285 (www.nmlsconsumeraccess.org) | 8023 East 63rd Place, Suite 700 | Tulsa, OK 74133 | AZ Mortgage Banker License #0921300 | Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act | Georgia Residential Mortgage Licensee #23647 | Kansas Licensed Mortgage Company | Massachusetts Lender/Broker License MC2285: Finance of America Reverse LLC | Licensed by the N.J. Department of Banking and Insurance | Licensed Mortgage Banker -- NYS Banking Department where Finance of America Reverse is known as FAReverse LLC in lieu of true name Finance of America Reverse LLC | Rhode Island Licensed Lender | Not all products and options are available in all states | Terms subject to change without notice | For licensing information go to: www.nmlsconsumeraccess.org When the loan is due and payable, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to borrowers, who may need to sell the home or otherwise repay the loan with interest from other proceeds. The lender may charge an origination fee, mortgage insurance premium, closing costs and servicing fees (added to the balance of the loan). The balance of the loan grows over time and the lender charges interest on the balance. Borrowers are responsible for paying property taxes, homeowner’s insurance, maintenance, and related taxes (which may be substantial). We do not establish an escrow account for disbursements of these payments. A set-aside account can be set up to pay taxes and insurance and may be required in some cases. Borrowers must occupy home as their primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan also becomes due and payable (and the property may be subject to a tax lien, other encumbrance, or foreclosure) when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, defaults on taxes, insurance payments, or maintenance, or does not otherwise comply with the loan terms. Interest is not tax-deductible until the loan is partially or fully repaid.

STATE OF ILLINOIS COMMUNITY REINVESTMENT NOTICE

The Department of Financial and Professional Regulation (Department) evaluates our performance in meeting the financial services needs of this community, including the needs of low-income to moderate-income households. The Department takes this evaluation into account when deciding on certain applications submitted by us for approval by the Department. Your involvement is encouraged. You may obtain a copy of our evaluation. You may also submit signed, written comments about our performance in meeting community financial services needs to the Department.

Questions or complaints? Email us at customerrelations@financeofamerica.com