Home Equity Conversion Mortgages (HECMs)

Federally-insured reverse mortgages backed by the U. S. Department of Housing and Urban Development (HUD). 

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Home Equity Conversion Mortgage for Purchase (H4P)

An H4P (a type of HECM loan) enables qualified senior home buyers to purchase a new primary residence that better suits their needs and obtain a reverse mortgage in one transaction. 

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Products & Services

Home Equity Conversion Mortgages (HECM)

So, what is a reverse mortgage? 

It is a Federally-insured reverse mortgage loan backed by the U. S. Department of Housing and Urban Development (HUD). If you qualify, a HECM loan would enable you to withdraw a portion of your home’s equity. which can be used to pay for unexpected expenses, such as nursing home costs or long-term care. It could also provide you with additional cash flow for all the expenses you have. As long as all loan terms are met, the loan does not require repayment until the last surviving borrower permanently moves out of the home, or passes away. How much you can borrow with a HECM loan depends on several factors, including:


• Borrower(s) must be 62 years or older

• Must be a homeowner and either own home outright or have significant equity; must live in the home as  a primary residence (live there 6+ months per year)

• The property must be a single-family home, 2- to 4-unit dwelling or FHA-approved condo

• Must meet minimal credit and property requirements

• Must receive reverse mortgage counseling from a HUD-approved counseling agency

• Must not be delinquent on any federal debt

Home Equity Conversion Mortgage for Purchase (H4P)

An H4P (a type of HECM which is also backed by the FHA) enables qualified, senior homebuyers to purchase a new primary residence that better suits their needs and obtain a reverse mortgage in one transaction. You can use an H4P if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing. This type of HECM reverse mortgage, if it is offered in your area, may allow you to:

  • Build a new customized home

  • Relocate closer to friends and family members

  • Purchase a home in senior housing community

  • Downsize to a smaller, easier-to-maintain home

  • Purchase a primary residence suitable for your current needs

  • Move into a new home that’s easily accessible with modern amenities

*NOTE: The HECM reverse mortgage product has a loan limit of $636,150 in 2017 and $679,650 in 2018. However, other loan products are available; please contact us for more information.

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Complaints may be directed to: (877) 699-0353 or Email us: customerservice@fairwaymc.com.                                   Privacy Policy           Terms of Use

Most, but not all, reverse mortgages today are federally insured through the Federal Housing Administration’s Home Equity Conversion Mortgage (HECM) Program. This advertisement talks about HECM loans only.


This advertisement does not constitute financial or tax advice. You should consult a financial and/or tax expert for your specific situation.Copyright©2020 Fairway Independent Mortgage Corporation (“Fairway”) NMLS#2289. 4801 S. Biltmore Lane, Madison, WI 53718, 1-877-699-0353. All rights reserved. Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency.  Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old. Monthly reverse mortgage advances may affect eligibility for some other programs.This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.

Fairway Reverse Mortgage - Reverse Morgage with Joan

Location: 19410 8th Ave. NE., Suite 103 

                Poulsbo, WA. 98370

Ph. 360-949-1595

Opening hours 

Mon - Fri: 9am - 6pm

Sat - Sun: by appt. only


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