Reverse Mortgage (HECM)
Home Equity Conversion Mortgages (HECM) allow senior homeowners 62 and older to convert a portion of their home equity into a lump sum, a monthly payment stream, or a standby line of credit while retaining ownership of the home.
Senior Homeowners (62+) & Estate Planners
Send Oakley your scenario for a personal review against 300+ wholesale lenders — no application submitted until you say go.
Program at a Glance
- Down Payment
- Equity-based (payoff + proceeds)
- Credit Score
- Financial assessment
- Occupancy
- Primary residence (62+)
- Term
- No required monthly payment
- Property Type
- 1–4 unit primary / approved condos
Key Program Highlights & Advantages
No required monthly mortgage payment — but you remain responsible for property taxes, insurance, and maintenance, and must otherwise meet loan obligations
Receive funds as lump sum, monthly payments, line of credit, or combination
Line of credit growth feature: unused funds may grow over time per the loan terms
Non-recourse feature: the loan is generally repaid from the home's value (you or your heirs generally won't owe more than the home is worth at payoff)
Retain title and full ownership of your property
General Qualification Standards
Compare Similar Programs
| Program | Down Payment | Credit Score | Occupancy | Term |
|---|---|---|---|---|
| Reverse Mortgage (HECM) | Equity-based (payoff + proceeds) | Financial assessment | Primary residence (62+) | No required monthly payment |
| HELOC & Home Equity Loans | N/A — equity-based | Varies by lender & program | Primary, 2nd home, or investment (varies) | Revolving + draw/repayment periods |
| Bridge Loans | Equity-based | Varies (often 640+) | Current home / new purchase | Short-term (≈ 6–12 mo) |
Figures shown are typical ranges and vary by lender, program, and borrower profile.
Rates, terms, and program availability are subject to change without notice and depend on borrower qualification and underwriting approval. This is not a commitment to lend. Contact Oakley Pike for current program guidelines.
Ready to Explore Reverse Mortgage (HECM)?
Get custom rate quotes and personalized scenario analysis with Oakley Pike.