Need reverse mortgage

4 Replies

Specifically looking for a HECM Saver for a borrower/property in the Dallas DFW TX area.

I guess I could research it, but I would much rather hear from someone I knows has experience with the acronym. @Jon Klaus , what does HECM Saver mean?

Home Equity Conversion Mortgage. It's the FHA insured reverse mortgage. The Saver version has less cost than the standard, but also has lower borrowing limits.

Another example of high quality. With BiggerPockets.com, I know I have the opportunity to actually learn something new each time I get on the forums. @Jon Klaus , thanks for the answer. I am going to forward it to our team on the ground there in Dallas and see if there is anything we can do to provide what you need.

All the best to you -

Chris

Thanks, Chris, There are few mortgage brokers/lenders that specialize in these, so the fees can be high. I'm wanting to shop for lower cost/good service. I appreciate your help!

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