Home Loan and Mortgage Options

Learn about the variety of home loan and mortgage options available to you by On Q Financial.

Reverse Mortgage Home Loan Options

FHA HECM Reverse Mortgage

A Home Equity Conversion Mortgage (HECM) is the Federal Housing Administration’s (FHA) federally backed reverse mortgage program and the most popular method for seniors to withdraw some of the equity in your home.

To be eligible you must be 62+, own your home, be able to pay ongoing property charges, taxes and insurance, and the home must be your primary residence.

FHA HECM for Purchase Reverse Mortgage

An FHA HECM for purchase is when a senior, age 62 or older, can buy a new principal residence using the proceeds from a reverse mortgage loan. This program enables these homeowners to relocate or downsize to a home that better meets their physical needs.

Jumbo Reverse Mortgage

When senior homeowners have significant property value or a high-value home ($1 million or more) a jumbo reverse mortgage allows them to access more of their home equity. This comes in handy when borrowers are interested in loan proceeds that exceed the standard HECM reverse mortgage of $636,150.

Contact an On Q Reverse Mortgage Consultant for full details and to see if a reverse mortgage might be right for you.

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Just some of our happy clients

"I am very grateful to have been able to work with you and your associates in obtaining a reverse mortgage. My financial planner said that I was the perfect candidate and recommended using you to expedite everything. It went very smoothly and my income stream provided a preservation of my portfolio which has eased my mind. Thank you so much."

– Miki H.

"Thank you for taking care of this for my mom, this is just what she needed to give her some financial breathing room."

– Renee C.

"We selected On Q Financial Services after a recommendation from our financial advisor. We received a thorough education in not only the process but the important nuances that should be considered before making a final decision. On Q respected our need for detailed communication and also provided an understanding and insight into the process. We look forwards to recommending On Q Financial Services to our professional and personal associates, not only for your firm’s expertise but more importantly, the terrific personnel with whom we dealt along the way."

– Ted & Linda R.

"A few years ago I was living in a house that did not suit my needs. With the assistance of Samantha Alspaugh, I signed up for my first Reverse Mortgage line of credit. Using this relatively low interest loan for construction funds enabled me to build a new house appropriate for my stage in life.
When my new house was completed, I sold the prior house and paid off my first Reverse Mortgage. I moved into my new home and then contacted Samantha for my second Reverse Mortgage Line of credit. My new home has some title and ongoing quirks. In spite of these issues a determined Samantha stuck with it and ultimately arranged my second Reverse Mortgage Line of Credit.
I first used this loan as a bridge loan, then I paid it almost off (not quite zero to keep the loan open). Now thanks to the financial flexibility offered by a Reverse Mortgage Line of Credit, I live in my dream home debt free and watch the line of credit funds available to me increase on a regular basis. Most importantly, I have peace of mind knowing that I have emergency funds available to me anytime just a phone call away.
Life is good"

– Dale Z.

Reverse Mortgage News