Answer
No monthly mortgage payments are required, though you must pay taxes, insurance, and maintenance.

Answer
The loan is typically repaid from the sale of the home. Any remaining equity belongs to you or your heirs. Your heirs have options. They can choose to repay the loan and keep the home, or sell the property to repay the balance. If the loan balance is higher than the home's value, they will never owe more than the home is worth thanks to the non-recourse protection provided under the HECM program.

Answer
No. The loan doesn't need repayment as long as you live in the home and meet the terms.

Answer
HECMs are non-recourse loans - you or your heirs will never owe more than the home's current market value.

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Typically, no monthly mortgage payments are required. However, you must meet your ongoing obligations, such as paying property taxes, homeowners insurance, and maintaining your home to keep the loan in good standing.

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The amount you can access depends on your age, the home's value, current interest rates, and the specific loan program. A Secure Lending reverse mortgage specialist can provide a personalized estimate during your consultation.

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Yes, most benefits such as Social Security and Medicare are not affected. However, using reverse mortgage proceeds may impact need-based programs like Medicaid or Supplemental Security Income (SSI). We recommend consulting a qualified benefits advisor before making financial decisions.