Products
Reverse Mortgage Programs
A reverse mortgage lets eligible homeowners convert a portion of their home equity into funds — with no required monthly mortgage payment. Ennkar offers federally insured and proprietary programs.
HECM Reverse Mortgage
The federally insured program backed by HUD and FHA. Available to homeowners age 62 or older. The most widely used reverse mortgage in the U.S.
Explore HECMJumbo Reverse Mortgage
A proprietary program designed for higher-value homes. Allows eligible homeowners to access equity beyond the FHA lending limit.
Explore JumboHECM for Purchase
Buy a new primary residence using a reverse mortgage. Combine home sale proceeds with a HECM to purchase the home that fits your retirement lifestyle — without monthly mortgage payments.
Explore HECM for PurchaseHow a Reverse Mortgage Works
With a reverse mortgage, the lender makes payments to you — rather than you making monthly payments to the lender. The loan balance grows over time and is repaid when you sell the home, move out, or the loan otherwise becomes due.
You remain on title and continue to own your home. You are still responsible for property taxes, homeowner’s insurance, and general maintenance.
Loan proceeds can be received as a lump sum, line of credit, monthly payments, or a combination — depending on the program and your situation.
General Requirements
- HECM: at least one borrower must be age 62 or older. Proprietary (jumbo) programs: typically age 55 or older — requirements vary by program.
- The property must be your primary residence
- You must have sufficient equity in the home
- You must be financially able to pay property taxes, insurance, and upkeep
- HECM borrowers are required by federal law to complete a HUD-approved counseling session before closing
Program availability and loan amounts depend on age, home value, current interest rates, and program guidelines. This is not a commitment to lend. Ennkar, Inc. NMLS #976231. Licensed mortgage company in 16 states. Not all products available in all states. View licensing information · NMLS Consumer Access.
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This is not a commitment to lend. Ennkar, Inc. NMLS #976231. Licensed mortgage company in 16 states. Not all products available in all states. View licensing information · NMLS Consumer Access.