HomeSafe® Large Reverse Mortgage

Offered exclusively by Finance of America Reverse (FAR), HomeSafe is a proprietary reverse mortgage that allows your clients who are homeowners and homebuyers 62 and older to borrow amounts up to $2.25 million.

HomeSafe offers these additional advantages over traditional reverse mortgages or Home Equity Conversion Mortgages (HECMs):

  • No mortgage insurance premium.
  • No initial disbursement limitation—consumers receive the full amount at closing.
  • Condominiums appraised at $500,000 or more do not require FHA approval.
  • If the consumer is buying a house or condo, seller concessions and lender credits are allowed.

HomeSafe offers a competitive fixed interest rate and a lump-sum draw. As with traditional mortgages and HECMs, borrowers can use the proceeds to pay off existing mortgage debt, to eliminate monthly mortgage payments,* and to pay for home improvements, medical bills, or in-home care expenses. Borrowers may also use the funds to buy a house or condo in an upscale area or to refinance an existing reverse mortgage to access a larger pool of funds.

To learn more about the FAR HomeSafe reverse mortgage—and how it can help you more fully serve clients with higher-value homes—contact us today at or 855-778-7226.

* If the borrower does not meet loan obligations such as taxes and insurance, then the loan will need to be repaid. This material is not from HUD or FHA and has not been approved by HUD or any government agency. UFA’s HomeSafe® reverse mortgage is a proprietary product of Finance of America Reverse, LLC, and is not affiliated with the Home Equity Conversion Mortgage (HECM) program. HomeSafe is only available when a borrower has requested loan proceeds in excess of the HECM limit or when a borrower does not qualify for the HECM but does qualify for HomeSafe. [BD1] FHA insures fixed interest rate Home Equity Conversion Mortgages (HECMs), as well as annual and monthly adjustable interest rate HECMs. The mortgagor has the ability to change the payment plan under the HECM at any time provided funds are available. Fixed interest rate HECMs are limited to the Single Disbursement Lump Sum payment option where there is a single, full draw at loan closing and the mortgage does not provide for future draws by the mortgagor under any circumstances. Adjustable interest rate HECMs provide for five flexible payment options and allows for future draws. The amount of funds available to the mortgagor is determined by the age of the youngest mortgagor (or non-borrowing spouse for case numbers assigned after August 4, 2014). The disbursement of HECM proceeds during the first 12-month disbursement period is subject to an initial disbursement limit as determined by requirements set by the Secretary. UFA134 [Exp 08/2015]

© 2016 Finance of America Reverse LLC, NMLS #2285 (NMLS Consumer Access)