Senior Equity Reverse Mortgage^® Compare reverse mortgages at a glance.

Text Size

A A A

In this section:

Key Benefits	Home Equity Conversion Mortgage (HECM)	Bank of America proprietary product
Make no reverse mortgage payments for as long as you live in your home.
Retain the title to your home and continue living there for as long as you wish¹.
Finance many of your loan’s fees so you’ll have minimal out of pocket expenses
Choose how you want to receive your funds—lump sum, monthly installments, line of credit or a combination of these options.
Get additional funds with an annual credit line increase (amount varies by product).
Use the loan to buy a new home.
Available for higher home values
Available for a manufactured home.
Fixed or adjustable rate available

Next Page: Home Equity Conversion Mortgage (HECM)

Was this page helpful?

Yes

| No

¹There are some circumstances that will cause the loan to mature and the balance to become due and payable. Please talk to your Equity Loan Officer for further details.

Purchase program not available in TX. Property Insurance is required, flood insurance when necessary. Borrower is still responsible for paying ongoing property taxes. Credit is subject to age and property qualifications. Program, rates, fees, terms and conditions are not available in all states and subject to change. Please contact Bank of America for more information.

Senior Equity Reverse Mortgage® Compare reverse mortgages at a glance.

In this section:

Senior Equity Reverse Mortgage^® Compare reverse mortgages at a glance.