For many seniors, our exclusive Cash Account Advantage reverse mortgages offer the best road to financial freedom. These reverse mortgages have been designed especially for senior homeowners with substantial home equity or higher-valued homes.

Recent improvements and additions to these proprietary reverse mortgages make them even more attractive. So when you choose a Financial Freedom Cash Account Advantage reverse mortgage, there's more in it for you:

• More cash, with virtually no loan limit or maximum home value.
• More flexibility, with options that eliminate upfront fees and closing costs.
• More ways to free up the equity in your home and get tax-free cash* for what you want or need.

* Consult Tax Advisor.

 

More cash
Cash Account Advantage allows you to tap into more of your home equity because, unlike traditional reverse mortgages, there are virtually no limits on the value of your home or the loan amount. This product provides a higher available loan amount and lower interest rate to the borrower. This way, you can receive substantially more cash than is possible with other reverse mortgages.

More options
Cash Account Advantage features a number of options that allow you to maximize the benefits depending on your unique needs, including eliminating upfront fees and closing costs. Your Financial Freedom Reverse Mortgage Specialist can explain all the details and help you determine what combination of options is best for you.

Credit Line Option
Your origination fee is 2% or $2,500, whichever is greater, of the Initial Advance limit (the maximum amount that is available to you on this loan). You pay all third-party closing costs such as but are not limited to, title, closing agent, flood certification, tax service, credit report, appraisal, including any government taxes or fees required. You can draw as little as you want or as much as your Initial Advance Limit. Minimum draw after closing is $500.

Combo Option
When you draw 75% of the maximum available amount (a minimum of $200,000), you do not pay the origination fee of 2%. However, third-party closing costs are still your responsibility (third party fees are described above).

Cash Out Option
With this option, pay no origination fees or closing costs (excluding state or local taxes) with a minimum first draw of $275,000.

The required draw at closing is 100%.

Equity Choice Feature
Available for all Cash Account Advantage options, this allows you to limit the loan obligation to a stated percentage of the full market value of the home. As a result, the amount of the loan or line of credit will be less than the amount for which you would otherwise qualify. Choose to protect from a minimum of 10% to a maximum of 50% of your home equity to assure a percentage of equity to benefit you or your heirs upon loan maturity.