Reverse Mortgage Counseling
How to access home equity without selling your home or making monthly mortgage payments
Get In Touch
Get in touch with one of our experienced reverse mortgage consultants via phone call, or by submitting your info below.
Hear From Us
A reverse mortgage expert from Community First National Bank will reach out to provide you with the reverse mortgage process.
Find Your Fit
Discover if a reverse mortgage is the ideal solution for your situation. We guarantee exceptional, personalized service tailored to your unique needs.
How The HECM Program Works
Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income.
The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM), and is only available through an FHA-approved lender. If you are a homeowner age 62 or older and have paid off your mortgage or paid down a considerable amount, and are currently living in the home, you may participate in FHA's HECM program.
Frequently Asked Questions
How old do I have to be to qualify?
In most cases 62 – this is the age the FHA requires the youngest person listed on the title.
Do I have to live in the house to get a reverse mortgage?
Yes! You must live in it an it must be your primary residence.
Can I get a fixed rate?
Yes – you will need to choose either a fixed rate or adjustable.
What type of housing is eligible?
Single family home or 2-4 unit home with one unit occupied by the borrower, HUD-approved condominium project, manufactured home that meets FHA requirements (sorry no sailboats!)
What is the most I can borrow?
The FHA limit is $1,149,825.
Do I have to own my house outright?
No, but you have to have a sizable amount paid off – it will vary based on which loan option you choose.
Can I get a line of credit?
Yes this is available with an adjustable rate reverse mortgage.
CFNB Branch manager
Hi, I'm Toby English
Here at Community First National Bank we take tremendous pride in building our reputation as the premier leader in mortgage banking. Our dedication and commitment to inform and educate our customers is our top priority.
Please reach out if you have any reverse mortgage questions!
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