Utilize home equity for a lump sum or monthly payout.Ĭash out at a higher level when your home value increases.īuy a new home to facilitate aging in place with H4P.įor high-value homes, up to a $4 million payout. Consider this loan if your home value is over $850,000 or condo value is over $500,000. The HomeSafe Reverse Mortgage from Mutual of Omaha gives you access to greater home equity than a HECM allows.This product allows retirees to easily downsize or buy their dream home without the monthly burden of a mortgage payment. This loan requires a substantial down payment to cover the equity requirement for the loan. Mutual of Omaha HECM for Purchase (H4P) allows seniors to buy or build a new home by taking out a reverse mortgage on the property.Consider a refinance to get access to more funds when the value of your home increases. Mutual of Omaha’s reverse mortgage refinance is for consumers who want to take advantage of improving housing market conditions.Borrowers receive a lump sum or monthly payment. This financial tool allows retirees to cash out on the equity in their homes. A Mutual of Omaha reverse mortgage loan is a home equity conversion mortgage (HECM) regulated and insured by the Federal Housing Administration.
The exception is that the sale may be delayed as long as your spouse lives in the home.
You pay off your loan with proceeds from the sale of your house when you move out. Mutual of Omaha offers four reverse mortgage solutions with no monthly payments. Mutual of Omaha Reverse Mortgage Products No reverse mortgage loan rates or fees on the website.
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