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.

Warsh Fed

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