Home Equity Conversion Mortgage
GPTKB entity
Statements (23)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
reverse mortgage
|
| gptkbp:abbreviation |
gptkb:HECM
|
| gptkbp:availableOn |
gptkb:United_States
|
| gptkbp:canBe |
purchase of a new primary residence
|
| gptkbp:designedFor |
homeowners age 62 and older
|
| gptkbp:feesInclude |
mortgage insurance premium
origination fee servicing fee third-party closing costs |
| https://www.w3.org/2000/01/rdf-schema#label |
Home Equity Conversion Mortgage
|
| gptkbp:insuredBy |
gptkb:Federal_Housing_Administration
|
| gptkbp:introducedIn |
1989
|
| gptkbp:mainInterest |
fixed or adjustable rate
|
| gptkbp:maximumLoanAmount |
set by FHA limits
|
| gptkbp:purpose |
convert home equity into cash
|
| gptkbp:regulates |
gptkb:National_Housing_Act
gptkb:U.S._Department_of_Housing_and_Urban_Development |
| gptkbp:repaymentDue |
when borrower dies, sells home, or moves out
|
| gptkbp:requiresCounseling |
yes
|
| gptkbp:requiresPrimaryResidence |
yes
|
| gptkbp:targetUser |
non-recourse loan
|
| gptkbp:bfsParent |
gptkb:Home_Equity_Conversion_Mortgage_(HECM)
|
| gptkbp:bfsLayer |
5
|