Resources Library

Browse on-demand resources and strategies designed to help your clients improve retirement with home equity.

PLAYBOOK

Learn how a reverse mortgage fits in as part of a client’s comprehensive retirement strategy.

  • Improves cash flow
  • Provides flexibility and freedom
  • Protects against downturns
  • Elevates lifestyle
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Preparing for the Rebound, CFP CE

July 7, 2022

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Usage Cases
GOAL
Pay for grandchildren’s college expenses.
BACKGROUND

Name: Charlene K.

Age: 72

Home Value: $650,000

Potential Loan Amount: $360,000

SOLUTIONS

A reverse mortgage line of credit withdrawing $40,000 per year for 10 years* while retaining home equity.

* Illustration is for financial professional educational purposes only and assumes a borrower age 72 who resides in CT and an adjustable interest rate, with an initial rate of 1.82% (+0.50% MIP), and financed fees of approximately 3.3% of the home value. Rate quote generated on 8/1/2021. Rates are rounded down to the nearest 0.125% and are subject to change.
GOAL
To have income tax-free retirement funds.
BACKGROUND

Name: Martin S.

Age: 62

Home Value: $750,000

Potential Loan Amount: $368,500

Retirement Savings: $1,300,000

SOLUTIONS

A reverse mortgage line of credit on his home to pay the taxes on his Roth conversions, allowing for tax-free growth* and distributions for the rest of his life. His heirs will inherit the Roth income tax-free as well.

* Not tax advice. Consult a tax professional. Illustration is for financial professional educational purposes only and assumes a borrower age 62 who resides in FL and an adjustable interest rate, with an initial rate of 1.82% (+0.50% MIP), and financed fees of approximately 3.3% of the home value. Rate quote generated on 8/1/2021. Rates are rounded down to the nearest 0.125% and are subject to change.
GOAL
To maximize Social Security benefits.
BACKGROUND

Name: Sarah S.

Age: 66

Home Value: $525,000

Potential Loan Amount: $288,225

SOLUTIONS

A reverse mortgage line-of-credit to supplement her cash flow, allowing her to delay taking Social Security and maximize the benefit.

* Illustration is for financial professional educational purposes only and assumes a borrower age 66 who resides in GA and an adjustable interest rate, with an initial rate of 1.82% (+0.50% MIP), and financed fees of approximately 3.4% of the home value. Rate quote generated on 8/1/2021. Rates are rounded down to the nearest 0.125% and are subject to change.
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Stay up to date

As Boomers Retire and Clients Live Longer, How Will Advisers Respond?

Video

Steve Resch of Finance of America breaks down the longevity issues that are at the heart of planning issues today. How advisers respond will be key to their success.

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Groundbreaking New Study Demonstrates Reverse Mortgages Can Reduce Risk and Increase Wealth for Retirees

Article

Finance of America Reverse (FAR), a retirement solutions company, announced that a new study published today in the Journal of Financial Planning

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Credit and Home Equity Model Language for Financial Service Firms

Article

Insights from the Academy for Home Equity in Financial Planning at the University of Illinois on how prudent use of home equity can help secure a better retirement.

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The Boomer Effect: How Will So Many Seniors Get Long-Term Care?

Article

Industry expert Phil Walker explains how using a reverse mortgage as a standby line of credit can address the growing gap between medical insurance and long-term care.

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Client Opportunity Assessment

Worksheet

Simple questions to help you and your client evaluate if a reverse mortgage may be right for them.

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