Seniors Home Reverse Mortgage - 404.299.0100
Seniors Home Reverse Mortgage


Home Equity Conversion Mortgage

This is official FHA name. It is commonly known as a Reverse Mortgage

As of the beginning of 2017 the total Reverse Mortgage originations in the United States has past the one million loans mark. The total is 1,011,228!  Senior Citizens have benefited from the FHA insured Reverse Mortgage since the program began in 1990.

Although the program has been in existence for twenty seven years, one in four loans has been done in just the past five years. These numbers show how popular the program has become for many senior citizens. 


FHA unveils cheaper reverse mortgage effective Oct. 4 2010

FHA launched a new reverse mortgage called the HECM Saver on Oct. 4, 2010. In exchange for borrowing a lower amount, the HECM Saver charges drastically lower upfront fees. HECM is short for Home Equity Conversion Mortgage, the reverse mortgage program insured by the FHA. The vast majority of reverse mortgages are HECMs.

The new HECM Saver eliminates the upfront mortgage insurance premium, charging just 0.01 percent of a home’s value. On a $200,000 home, that means you’ll pay an upfront premium of just $20. The tradeoff with the HECM Saver is that the amount you can borrow against your equity is between 10 percent and 18 percent less than the FHA’s standard reverse mortgage. Borrowers are also charged mortgage insurance premiums on an ongoing basis equivalent to 1.25 percent annually of the outstanding loan balance.

HECM for Purchase Program

FHA approved program – effective January 1st, 2009

The Housing and Economic Recovery Act of 2008 provides seniors with the opportunity to purchase a new principal residence with HECM loan proceeds. The National Housing Act effective January 1st, 2009 authorizes the Department of Housing and Urban Development to insure Reverse Mortgages for the purchase of a 1- to 4-family home. Accordingly, eligible seniors now have the opportunity to purchase a primary residence with HECM loan proceeds. This is an ideal situation for seniors who are downsizing. Call us for more details.

Lending Limits for FHA insured Reverse Mortgages increase $625,000

On February 15th, 2009 the economic recovery bill approved by the U.S. House and Senate changed the single national loan limit for FHA insured Reverse Mortgages at a higher level than $417,000.This change allows seniors with higher home values to receive more money. 

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Fast Facts

Reverse mortgages allow you to convert equity in your home into supplementary cash to use whenever, and however, you wish: as a lump-sum, monthly payment or as a line of credit you can tap as needed. The loan does not have to be repaid as long as you continue to live in your home.
The loan is backed and guaranteed by the Federal Government.
The home must be your primary residence.
Title to the property remains in your name.
Borrower must pay property taxes, hazard insurance and keep the home maintained.
You do NOT make monthly payments. EVER!
Cash received is TAX FREE!
You own your home – no different than a traditional mortgage.
Social Security benefits and Medicare are generally not affected by a reverse mortgage – consult your tax advisor.
  Home Equity Conversion Mortgage    


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Seniors Home Reverse Mortgage Inc. is not a government agency or affiliated with FHA or HUD. Information on this website is not approved by HUD/FHA or any U.S. Government Agency.


Seniors Home Reverse Mortgage Inc. is based in Decatur Georgia, Georgia. We work in Metro Atlanta, Marietta, Roswell, Savannah, Columbus, Rome, Dalton, Macon, Alpharetta, Dunwoody, Brookhaven, Gainesville, Smyrna and all counties in Georgia… We assist senior citizens, 62 years and older with a primary residence located in Georgia. Our goal is to provide factual information and explain the rules, regulations and types of Reverse Mortgages available to senior citizens in all counties in Georgia.

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