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The FHA-Insured Reverse Mortgage
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You've worked hard for many years to pay for your home. Now your home can pay you back with the Fannie Mae Home Keeper Mortgage. |
A Home Keeper is a special type of mortgage that enables you, as an older Homeowner, to tap the equity you have in your home or purchase a new home. Whether you need a lump sum to pay an unexpected hospital bill or a stream of regular advances to supplement your monthly income, Home Keeper offers an option to address your particular financial needs.
Who is eligible for a Home Keeper?
You, and any co-borrowers, must be 62 years old and either own your home free and clear or have a very low outstanding mortgage balance. You also must attend a consumer education session on reverse mortgages. Family members are encouraged to attend these sessions.
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