TILA Mortgage

One size doesn’t fit all. The HECM Line of Credit opens doors.
Enter the Home Equity Conversion Mortgage (HECM)
The HECM was created in 1989 to assist older homeowners in maintaining their quality of life and remain in their home during retirement. It is a unique loan in that no monthly mortgage payments are required, and it converts a portion of the home’s value into tax-free cash or a line of credit.* The HECM is one of the most regulated, senior-protective, mortgage loans in the country and is insured by the FHA.

The HECM Line of Credit
One of the most overlooked yet beneficial features of the HECM is the line of credit. Unlike traditional home equity lines of credit which can be closed or reduced, this special credit line is secured and cannot be reduced if home values decrease or if interest rates increase. Even better, the unused portion of the credit line increases each month you don’t use it. Many older homeowners have set up a HECM line of credit for use by the surviving spouse to offset loss of income and much more.

Benefits of the HECM Line of Credit
Credit Line Secured
Retirement should be a worry-free time of life. Unfortunately, many older homeowners worry about having enough money to maintain their standard of living throughout their retirement years.
No Use, No Charge
You are only charged interest and insurance on the funds you use in your HECM loan. Any unused portion of the credit line does not incur these costs.

Strategic Withdrawals
Some notable financial planners have outlined strategies where retirees may choose to use part of their line of credit rather than take income from investment accounts whose value may be declining in a given year.

There When You Need It
The HECM Line of Credit is available when you need it. You simply request the funds as needed.

Let’s chat!

This is an Advertisement. These materials were not provided by HUD or FHA and were not approved by FHA or any government agency.

The reverse mortgage borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the borrower does not meet these loan obligations, then the loan will need to be repaid.

Not tax advice. Consult a tax professional.

TILA Mortgage is licensed mortgage broker. NMLS ID # 2472046. An Equal Housing Lender. 206-766-8888. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations may apply. TILA Mortgage, LLC. is not affiliated with any government agencies. CONFIDENTIALITY NOTICE - The information contained in this advertisement is covered by the Electronic Communications Privacy Act, 18 U.S.C. Sections 2510 – 2521, and is legally privileged and confidential.

Did you know TILA Mortgage works with multiple national Lenders who offer proprietary reverse loans specifically designed for homeowners with high-value properties? These unique financial products allow homeowners to access a portion of their home equity while eliminating the need for monthly mortgage payments*.

Key Features of a Proprietary Reverse Loan:

• For high-value properties exceeding FHA limits

• 100% of the funds you qualify for are available in year one – unlike FHA reverse mortgages where the first-year payout is limited

• Tax-free lump sum of up to $4 million (please consult a tax advisor for specific tax rules)

• Fixed interest rates

• Pay off the primary mortgage while retaining homeownership as long as loan terms are satisfied. (A reverse mortgage is a debt.)

• Age 60 or older (due to state restrictions, some states have a higher minimum age)

• No Mortgage Insurance Premium (MIP)

• No pre-payment penalties. Pay off the loan whenever you want or make payments whenever you want.

Let’s chat!

*Borrowers must occupy home as primary residence and remain current on property taxes, homeowner’s insurance, the costs of home maintenance and any HOA fees. These products are offered by the Reverse Mortgage Lender and are not from HUD or FHA and this document was not approved by HUD, FHA, or any Government Agency.

If you have been turned down for a Home Equity Line of Credit, a cash-out refinance, or a 2nd Mortgage because of traditional income-based qualification standards, you may want to consider calling TILA Mortgage today to review some other options available only to seniors. There are some very exciting and life-changing products in the marketplace today such as:

The FHA-insured Home Equity Conversion Mortgage (HECM)
Proprietary Reverse Mortgages from multiple national Lenders
A Reverse Mortgage Home Equity Line of Credit (HELOC) for Seniors **
A Reverse 2nd Mortgage

These products give you flexibility to accomplish your goals without traditional qualifying standards AND they may even have lower fees. Additionally, monthly mortgage payments are optional**.

These mortgage products could be a potential solution for you to tap into your hard-earned home equity. Call us today to discuss your options or simply better understand these products. We are your local reverse mortgage experts and we’d love to help!

** The reverse Mortgage HELOC requires monthly interest-only payments

This is an Advertisement. These materials were not provided by HUD or FHA and were not approved by FHA or any government agency.

* - The reverse mortgage borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the borrower does not meet these loan obligations, then the loan will need to be repaid.

** - Not tax advice. Consult a tax professional.



TILA Mortgage is licensed mortgage broker. NMLS ID # 2472046. An Equal Housing Lender. 206-766-8888. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations may apply. TILA Mortgage, LLC. is not affiliated with any government agencies. CONFIDENTIALITY NOTICE - The information contained in this brochure and/or e-mail and any attachments to it are covered by the Electronic Communications Privacy Act, 18 U.S.C. Sections 2510 – 2521, and is legally privileged and confidential. If you have received an e-mail in error, please notify the sender immediately of that fact by return e-mail and permanently delete the e-mail and any attachments to it. VIRUS DISCLAIMER: Although the sender attempts to scan e-mail and attachments for viruses, it does not guarantee that either are virus-free and accepts no liability for any damage sustained as a result of viruses.