866 251.6105 Reverse Mortgage Loans

Compare HECM Saver to Standard

The FHA designed the HECM Saver reverse mortgage loan option as an alternative to the HECM Standard loan for the purpose of lowering loan closing costs. The HECM Saver may be an ideal option for borrowers who would like to borrow a smaller amount than what would beĀ  available with the HECM Standard loan. The HECM Saver features a lower initial Mortgage Insurance Premium (MIP) of .01% of the loan amount, where the HECM Standard requires a 2.0% MIP.