Reverse Mortgage

STRONGER SAFEGUARDS AND PROTECTION

Stronger Safeguards and Protections

Reverse mortgage loans come with many safeguards for your financial protection.

Limited Fees
HECM origination fees are regulated by the U.S. Department of Housing and Urban Development (HUD). HECM loan costs may vary among creditors and loan types.

First-Year Withdrawal Cap
HUD established limits on the amount of money you can access your first year to help you better balance your short- and longer-term financial needs.

Credit Line Growth
The unused portion of your credit line continues to grow—
giving you an incentive to responsibly access only the credit you need.

Financial Assessment
Before you can formally apply for a reverse mortgage, you will undergo a financial assessment to determine whether a reverse mortgage or another financial option can best serve you.

Counseling
You will receive counseling by an independent, HUD-approved third-party to help you explore and address whether a reverse mortgage or another alternative may offer you the best financial solution for your needs and goals.

No Pre-Payment Penalty
You can choose to repay your reverse mortgage anytime without
penalty.

Non-Recourse Loan
When repayment is due, neither you nor your heirs will ever owe
more than your home is worth.

FHA Mortgage Insurance: What You Need to Know

Reverse mortgage loans come with many safeguards for your financial protection.

1. Should you opt for a tenure plan, and you exceed your life expectancy, insurance covers the difference so you continue to be paid.

2. Should the lender default, you will continue to be paid, regardless.

3. Should the balance of the loan be larger than the value of the home when payment is due, the insurance fund covers the difference.

We're Here To Help

We’re always happy to chat, but sometimes you need to do things at your own pace. Our tools and resources are available whenever you need them.

Home
What is a Reverse Mortgage
How Do You Qualify
How Can You Access Funds
10 Reverse Strategies
HECM to HELOC Comparison
Stronger Safeguards And Protections
Reverse Mortgage Myths

CONTACT
Shining Star Funding
Corporate Office
6101 Bollinger Canyon Rd, Suit 344
San Ramon, CA 94583
(925) 820-2981

Copyright ©2024 Shining Star Funding A division of American Pacific Mortgage Corporation | NMLS ID # 1850 (www.nmlsconsumeraccess.org) | CA-DRE #01215943 | 6101 Bollinger Canyon Rd #344, San Ramon, CA 94583 Phone (925) 820-2981 | Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act.|Not Available in New York

For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.
Interactive calculators are self-help tools. Results received from this calculator are designed for comparative and illustrative purposes only, and accuracy is not guaranteed. Shining Star Funding is not responsible for any errors, omissions, or misrepresentations. This calculator does not have the ability to pre-qualify you for any loan program or promotion. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. Additional fees such as HOA dues are not included in calculations. All information such as interest rates, taxes, insurance, PMI payments, etc. are estimates and should be used for comparison only. Shining Star Funding does not guarantee any of the information obtained by this calculator.