Under the Term Option, you may receive equal monthly income for a fixed period of time. This option may give you greater monthly income.

For example, you may decide that you want monthly income for, say, 10 years.
Important Note: You can remain in your home after the end of the term without starting repayment. Repayment of a HECM does not begin until you no longer occupy your home as your primary residence.

If you wish further information, or if you have any questions or comments, please call (800) 250-4959 toll free, or e-mail us by clicking on Here. We will respond as soon as possible.