|
gptkbp:instanceOf
|
reverse mortgage program
|
|
gptkbp:administeredBy
|
gptkb:Federal_Housing_Administration
|
|
gptkbp:canBe
|
purchase of a new primary residence
refinancing existing mortgage
|
|
gptkbp:country
|
gptkb:United_States
|
|
gptkbp:disbursementOptions
|
line of credit
monthly payments
lump sum
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
HECM
|
|
gptkbp:insurancePremiums
|
upfront and annual MIP
|
|
gptkbp:insuredBy
|
gptkb:FHA
|
|
gptkbp:introducedIn
|
1989
|
|
gptkbp:mainInterest
|
fixed or adjustable rate
|
|
gptkbp:maximumLoanAmount
|
subject to FHA lending limits
|
|
gptkbp:purpose
|
allow seniors to convert home equity into cash
|
|
gptkbp:regulates
|
gptkb:U.S._Department_of_Housing_and_Urban_Development
HUD guidelines
|
|
gptkbp:repaymentDue
|
when borrower dies, sells home, or moves out
|
|
gptkbp:requiresCounseling
|
yes
|
|
gptkbp:requiresPrimaryResidence
|
yes
|
|
gptkbp:standsFor
|
gptkb:Home_Equity_Conversion_Mortgage
|
|
gptkbp:subject
|
third-party closing costs
origination fees
principal limit
servicing fees
|
|
gptkbp:targetAudience
|
homeowners age 62 and older
|
|
gptkbp:targetUser
|
non-recourse loan
|
|
gptkbp:bfsParent
|
gptkb:Home_Equity_Conversion_Mortgage
|
|
gptkbp:bfsLayer
|
6
|