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Reverse Mortgage

Get the Funds you Need With A Reverse Mortgage


years old

Matador Lending can help you coordinate securing a Reverse Mortgage!  We are excited to be helping eligible customers 62 years and older convert a portion of their home equity into usable funds without having to make monthly mortgage payments.

For your FREE personalized loan assessment contact us today!

What is Reverse Mortgage?

A Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, enables seniors to access a portion of their home’s equity without having to make monthly mortgage payments as long as they live in the home as their primary residence, continue to pay required property taxes, homeowners insurance and maintain the home according to FHA requirements.

  • Supplement your retirement income

  • Pay off your existing mortgage

  • Eliminate high-interest debt

  • Stretch retirement savings

  • Stay in your home

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Homeowners must be at least 62 or older
Meet financial eligibility criteria established by HUD.
All liens or mandatory obligations need to be satisfied through the reverse mortgage process.

Elegible home types

1 to 4 unit* owner-occupied homes
Approved townhomes
Manufactured homes
Image by Tom Rumble

Reverse Mortgage

Fill out this form for one of our representatives to contact you.

Reverse Mortgage HECM vs Home Equity Loan HELOC

  • No monthly mortgage payments

  • HECM interest rates vs HELOC are fairly comparable. 

  • Upfront costs are significantly higher 

  • No draw or utilization fees

  • No set draw period or a limit on the number of draws after the first 12-month disbursement period.

  • Flexibility to use the line of credit at any time and in any amount until the line of credit is exhausted.


  • Must pay back any funds borrowed, plus interest, within the repayment period.

  • Upfront costs for a HELOC are lower than they are for a HECM. 

  • Draw or utilization fees may apply

  • After the first 12 months, a predetermined number of draws will establish.

  • The lender can reduce or cancel the line of credit under certain circumstances.



Pros of Reverse Mortgage

  • You can receive the funds in a lump-sum payment1, monthly payments, as a line of credit, or in a combination of these options

  • You can stay in the home without making monthly mortgage payments2

  • Proceeds are not taxed as income or otherwise (though you must continue to pay required property taxes)3

  • Your heirs never have to repay more than the value of your home

  • Your heirs inherit any remaining equity after paying off the reverse mortgage


Cons of Reverse Mortgage

  • HECM loan balance increases over time

  • The value of estate inheritance may decrease over time as proceeds are spent

  • Fees can be higher than a traditional mortgage

  • Initial FHA Mortgage Insurance Premium

  • Annual FHA Mortgage Insurance Premium

  • The loan origination fee may be higher than traditional mortgages

  • Although Social Security and Medicare eligibility is not affected by a reverse mortgage loan, needs-based government programs such as Medicaid can be affected.

1 This disbursement option is only available for a fixed-rate loan.

2 You must live in the home as your primary residence, continue to pay required property taxes, and homeowners insurance, and maintain the home according to FHA requirements. Failure to meet these requirements can trigger a loan default that may result in foreclosure.

3 Generally, money received is not considered income and should be tax-free, though you must continue to pay required property taxes. Consult your financial advisor and appropriate government agencies for any effect on taxes or government benefits.

Reverse Mortgage FAQ

Obtaining a reverse mortgage loan is a big decision. It’s normal for you and your family to have questions and hopefully, the answers below can help put your mind at ease. If you don’t see your question, feel free to fill out the form above so one of our loan officers can contact you. They’re highly knowledgeable and are here to offer impartial advice. When you’re ready to apply, they’ll work with you through every step of the process.



Contact us Today!

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