Specialty
Reverse Mortgage
For homeowners 62+, a reverse mortgage (HECM) converts home equity into cash or monthly income — with no monthly mortgage payment required while you live in the home.
Program Highlights
- Available to homeowners age 62 and older
- Receive proceeds as a lump sum, line of credit, or monthly draws
- You retain title; the loan is repaid when you sell or leave the home
Wondering if a reverse mortgage fits your situation? Call (360) 961-2676 or email KristinaBoyko@tristarfinance.com — no pressure, no obligation.
Reverse Mortgage FAQs
Who qualifies for a reverse mortgage?
Reverse mortgages are generally available to homeowners age 62 and older with substantial equity, living in the home as their primary residence. Federally insured reverse mortgages also require a counseling session with an independent HUD-approved counselor before you apply, so you can make the decision with clear information.
Do I still own my home with a reverse mortgage?
Yes. You keep the title. You remain responsible for property taxes, homeowners insurance, and maintaining the home. The loan comes due when you sell, move out permanently, or pass away.
What happens to my home and my heirs when the loan comes due?
Your heirs have options: they can repay the loan and keep the home, or sell the home and keep any equity above the loan balance. Federally insured reverse mortgages are non-recourse, meaning neither you nor your heirs owe more than the home is worth when it sells.
Is a reverse mortgage right for me?
It depends entirely on your goals — it can be a good fit for staying in a home long-term with more monthly flexibility, and a poor fit if you plan to move soon or want to leave the home unencumbered. I'll give you a straight assessment either way, and the required independent counseling session gives you a second, unbiased perspective.
Ready to Explore Your Options?
Apply online in minutes — I'll review your application personally and walk you through the programs that fit.