With a Flex Payment Mortgage, your home is your key to financial flexibility.
What is a Flex Payment Mortgage?
Flex Payment Mortgages are Guild Mortgage's suite of reverse mortgage products which allow qualified homeowners to access their home equity with more flexibility than traditional home equity mortgages.
Flex Payment Mortgage benefits
A Flex Payment Mortgage gives
the homeowner more control over their home equity.
Choose how much you want to repay or even if you want to repay the loan at all.
Choose how you want to receive your money.
Choose how you want to use your money.
Popular uses for Flex Payment Mortgages
Eliminate monthly mortgage payments
Supplement income
Make home improvements
Pay for large expenses
Move closer to family
Purchase a new home better suited for you
Flex Payment Mortgage programs
Flex Payment Home Equity Conversion Mortgages (HECMs)
With a Flex Payment Home Equity Conversion Mortgage you’ll never owe more than your home’s value. Federal mortgage insurance premiums provide this safety net. Repayment occurs only when the last borrower passes away, moves out or sells the home, with the proceeds of the sale repaying the interest accrued on the loan. You can also choose to make occasional payments to manage the loan balance. Flex Payment Home Equity Conversion Mortgages can be used to refinance from a traditional loan, or to purchase a new home without monthly mortgage payments.
Flex Payment Home Equity Conversion Mortgage refinancing
Refinance your existing loan into a Flex Payment Home Equity Conversion Mortgage to pay off your existing mortgage and/or eliminate monthly mortgage payments. You can choose to set up a line of credit from the mortgage, receive regular payments from your home equity to supplement income, or receive a lump sum to pay off debt or large expenses. You can also refinance your existing Home Equity Conversion Mortgage to better terms as the market changes.
Flex Payment Home Equity Conversion Mortgages for purchase
The Flex Payment Home Equity Conversion Mortgage for purchase allows you to use the proceeds from the sale of your current home (or other savings) as a down payment on your new home. Your Flex Payment Home Equity Conversion Mortgage covers the remaining balance. You can then choose to repay as much as you want or make no monthly mortgage payments.
Flex Payment Jumbo Mortgages
Flex Payment Jumbo Mortgages are for homeowners with higher-value properties, lending up to $4 million. These mortgages do not require mortgage insurance and are not subject to federal lending limits. This is how they can offer more flexibility and larger loan amounts.
HomeSafe Second Mortgages
HomeSafe Second Mortgages offer a fixed-rate, single payout—with no monthly mortgage payments required! A powerful alternative to other mortgage options, this innovative solution lets you access up to $500,000 of your home equity for any purpose without affecting your existing first mortgage.
Is a Flex Payment Mortgage right for you?
A Flex Payment Mortgage may allow you to leverage your home equity if:
You are a homeowner over the age of 55. Age limit varies by loan program and state
Own and occupy your home as your primary residence
Attend a HUD counselling session (for Flex Payment Home Equity Conversion Mortgages and HomeSafe Second Mortgages)
Stay current on property taxes, insurance and Homeowner’s Association (HOA) fees, if applicable
