Question 1

How much can I borrow?

Accepted Answer

The amount depends on your age, your home's value, current interest rates, and existing mortgage balances. Most homeowners in the East Valley can access 40–60% of their home's appraised value. A consultation with Christian gives you a personalized estimate.

Question 2

What happens if I outlive the loan?

Accepted Answer

Nothing. You continue living in the home. With HECM loans, you are never required to repay more than the home is worth — it’s a federally insured, non-recourse loan.

Question 3

Do I still pay property taxes and insurance?

Accepted Answer

Yes. As the homeowner, you are still responsible for property taxes, homeowners insurance, and basic home maintenance. This is a key requirement to keep the loan in good standing.

Question 4

Can I get a reverse mortgage if I still have a mortgage?

Accepted Answer

Yes — in fact, one of the most popular uses is paying off an existing mortgage to eliminate monthly payments entirely. The reverse mortgage proceeds first pay off any existing balance.

Question 5

How long does it take?

Accepted Answer

Typically 30–45 days from application to funding. The required HUD counseling can usually be completed by phone in about 90 minutes.

Mortgage closing costs

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