Liberty Reverse Mortgage (Liberty) is one of the largest and most experienced reverse mortgage lenders in the country. Liberty was my original lender and I refinanced with them. I had an exceptionally good experience with them. They are outstanding, particularly the loan officer that I dealt with, Daniel.
He was conscientious, timely in response, and most importantly, he had integrity. From the beginning to the end, there were no changes. I wasn't misled and many times, you could be misled. Early on, they provided documents of what the loan would be like, and there was no wavering from it. The entire experience was most satisfying from start to closing.
He was conscientious, timely in response, and most importantly, he had integrity. From the beginning to the end, there were no changes. I wasn't misled and many times, you could be misled. Early on, they provided documents of what the loan would be like, and there was no wavering from it. The entire experience was most satisfying from start to closing.
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About Us
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For over decade, Liberty Reverse Mortgage has been committed to helping seniors gain financial freedom and security through Home Equity Conversion Mortgages (HECMs). Liberty is one of the largest and most experienced HECM lenders in the United States. We are a direct lender unlike many other HECM loan providers.
HECM Loan
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Whether you are planning on retiring soon or have already started retirement, take a moment to think about how you envision your retirement lifestyle. Even if you have planned, saved and invested carefully, you may have fewer funds than you had expected to meet your goals. Live in a single family, two-to-four unit owner-occupied home, townhouse, approved condominium or manufactured home.
HECM for Purchase
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You may need to set aside additional funds from the loan proceeds to pay for taxes and insurance. The difference between the purchase price of the home and the HECM proceeds will be paid in cash from the sale of an existing home or another source of eligible funds. Gift funds may be an acceptable form of down payment, however certain restrictions may apply.
Compare HECM to HELOC
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A Home Equity Line of Credit is a revolving loan that is secured by the value of your home with spending limitations similar to that of a credit card. You may not exceed the maximum credit limit and, similar to a traditional mortgage, you will make monthly payments for a fixed term.
Unlike a Home Equity Line of Credit (HELOC), the HECM does not require the borrower to make monthly mortgage payments and any existing mortgage or mandatory obligations can be paid off using the proceeds from the reverse mortgage loan.Many seniors use the remaining proceeds to fund medical expenses, make home repairs or just keep the extra cash in case of an emergency.
Unlike a Home Equity Line of Credit (HELOC), the HECM does not require the borrower to make monthly mortgage payments and any existing mortgage or mandatory obligations can be paid off using the proceeds from the reverse mortgage loan.Many seniors use the remaining proceeds to fund medical expenses, make home repairs or just keep the extra cash in case of an emergency.
EquityIQ
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With the EquityIQ jumbo reverse mortgage from Liberty, owners of higher value homes may access more funds with lower upfront costs than a traditional Home Equity Conversion Mortgage (HECM). The EquityIQ jumbo reverse mortgage is a loan that enables senior homeowners to convert a portion of their home's equity into usable funds.
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