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Family First Funding LLC is not a�liated with or acting on behalf or at the direction of HUD/FHA or any other government agency.

This is not a commitment to lend. All loans subject to an application, credit review, appraisal and underwriting approval. All rates and terms quoted herein are for informational purposes only, and are subject to change without notice.

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At one time, most people used a Home Equity Conversion Mortgage (HECM) loan—commonly known as a Reverse Mortgage—to pay o� their mortgage and improve their overall monthly cash �ow.

But over the years, �nancial advisors and other trusted professionals began to realize that a reverse mortgage could be an important, e�ective part of a sound and rewarding retirement funding strategy.

For example, the proceeds from a reverse mortgage can help you avoid tapping into your nest egg in the early years of retirement—which can extend retirement income, help you maintain your lifestyle, maximize your Social Security benefits,* and live the retirement you’d hoped for. And that’s just one way to use this financial tool.

This brochure is designed to help you understand how the reverse mortgage program works, and how you may be able to use it to help you meet your financial goals.

For more information, please contact us.

You’ve put a lot into your home.Now, it can pay you back.

Homeowners age 62 and older: Learn howtoday’s Reverse Mortgage loans

could help you meet your retirement goals.

RethinkingReverse Mortgages

*Consult a �nancial professional. Visit www.ssa.gov

What is a Reverse Mortgage?A Home Equity Conversion Mortgage (HECM)— commonly known as a reverse mortgage—is a government-insured loan option for people age 62 and older that allows you to tap into the equity you’ve already built in your home. It provides funds to help pay for the things you want or need, while you continue to live in and own your home.

Unlike conventional mortgage or home equity loans, there are no monthly mortgage payments. (However, in order for the loan to remain in good standing, you must continue to pay property taxes and homeowners insurance, and keep the home in good repair.) The loan must be repaid when you sell the home or no longer live there as your primary residence.

Please consult us for full details regarding borrower obligations and whether a reverse mortgage is right for you.

*Borrower is responsible for property taxes, homeowners insurance and property maintenance. A reverse mortgage is a home-secured debt payable upon default or a maturity event.** With a Reverse Mortgage Line of Credit, the amount available to the borrower can increase over time. The growth applies to the unused funds remaining in the borrower’s credit line. The less the borrower takes out up front, the more will be available later.

Reverse Mortgages:An Overview

Who can get one?To qualify, you must meet the following requirements:

• Be age 62 or older

• Own and live in your home —Houses and most condos qualify —Homes with existing mortgages may qualify

• Your home must be your principal residence, and meet U.S. Department of Housing and Urban Development (HUD) minimum property standards.

How can I use the money?You can choose to take your funds as a lump sum, line of credit, monthly installments, or a combination of these. Reverse mortgage loan proceeds can be used in a variety of ways, such as:

• As an alternative to a Home Equity Line of Credit (HELOC)

• Supplement your retirement income to help preserve your savings

• Pay o� your existing mortgage to free up more cash each month

• Generate funds to help cover everyday (or unplanned) expenses

• Cover health care costs• Make home renovations or upgrades• Fund a major purchase, such as a new home or

vehicle

Yes, a reverse mortgage can even be used as �nancing for a new home. HECM for Purchase is designed to help you a�ord the home you really want: one that’s more comfortable, right-sized for your needs, or easier to maintain. It lets you combine a down payment (about 45% to 55% of the purchase price) with reverse mortgage proceeds to purchase a home. As with a traditional mortgage, the home you’re buying secures the loan. Like all reverse mortgage loans, no monthly mortgage payments are required.* To qualify, you must meet the minimum down payment requirement, from a source of funds approved by HUD. (Ask us for details.)

Reverse Mortgage Line of Credit optionThis option is growing in popularity among retirement-age homeowners, because it o�ers certain advantages as compared to a traditional Home Equity Line of Credit (HELOC).

FeatureTraditional

HELOCToday’s Reverse Mortgage

Line of Credit

Borrower retains home ownership*

No monthly repayments required*

Line of credit growth**

Line of credit cannot be reduced or revoked by the lender,as long as you meet all your obligations under the loan