What You Need to Know About Idaho Reverse Home Loans

In the state of Idaho the number of reverse mortgages has steadily increased in the last few years. For good reason: reverse mortgages offer high customer satisfaction. Also a marked increase in FHA limits across most counties of Idaho in the recent past have also made it possible for many more Idaho seniors to qualify for the federally-insured Home Equity Conversion Mortgage (HECM).

Senior homeowners in Idaho, if you are considering a reverse mortgage, why not consult with a lender in your home state? Particularly useful are reverse mortgages for seniors that are “cash poor” but have significant equity just sitting dormant in their home.

Choose from a number of nationwide lenders or regional favorites.

HUD Reverse Mortgages in Idaho

The federally insured Home Equity Conversion Mortgage (HECM) provided by HUD is the number one most popular reverse mortgage in the country: the product requirements are adaptable to a huge array of borrowers, especially those with homes within their local FHA lending limits.

If you are interested in an Idaho HECM through HUD make sure you locate an FHA-approved lender. HUD offers a lender list free of charge on its website and recommends Idaho lenders that have been active with the HECMs within the last year.

Reverse Mortgage Providers in Idaho

Capital Mortgage Corp.

A HUD-approved lender with an office in Boise. Capital Mortgage specializes in the federally insured HECM.

Financial Freedom

Borrowers looking for national reputation, Financial Freedom is one of the largest volume reverse mortgage lenders in the country. Financial Freedom offers the HUD federally insured Home Equity Conversion Mortgage (HECM) which is the number one most loaned reverse mortgage in the country. The Fannie Mae Home Keeper product is a similar product, but designed with a slightly higher limit to offer some homeowners a bit more leverage. Financial Freedom’s proprietary reverse mortgage is the Cash Account, a jumbo product that features no limit. This is one of the three most popular reverse mortgages in the country.

FSI Mortgage

This Idaho-based company offers a wide range of loan and mortgage products as well as the federally-insured Home Equity Conversion Mortgage (HECM) provided by the U.S. Department of Housing and Urban Development (HUD).

The Idaho Housing and Finance Association (IHFA) provides a wealth of educational information on all aspects of homeownership in Idaho, including reverse mortgages.