Home Equity Conversion Mortgages

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Predictability or flexibility? The choice is yours

The independence you want.

If you see your retirement as a time of new opportunities, then a reverse mortgage from Bank of America may be right for you. It's a way to access a portion of your home's available equity and use the proceeds to make home improvements, pay for medical and long-term care, or cover unexpected expenses.

The confidence you need.

A Home Equity Conversion Mortgage (HECM) is a type of government-insured reverse mortgage. You can have confidence knowing you have a choice between a fixed or adjustable interest rate. With a fixed rate, you'll get the stability that comes with a rate that never changes. The adjustable rate, which is an open-end credit loan, gives you the flexibility to pay down your balance and redraw funds.

With a reverse mortgage you can:

Stay in your home without making any monthly reverse mortgage payments
Keep the title to your home

If you're 62 or older and would like to find out if you qualify for a reverse mortgage, contact a Bank of America solution advisor today.

We're here to help

A reverse mortgage solution advisor can explain all of your options and walk you through the entire process.

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.