Fannie Mae
Home Keeper Reverse Mortgages
Click here for
commonly asked questions about Fannie Mae's Home
Keeper reverse mortgage.
This reverse mortgage
product is designed to benefit homeowners age 62 or
older who are looking for a way to tap their home
equity without having to pay back the loan while
they still live in their home.
With a Home Keeper mortgage,
you borrow against the value of your home and
receive loan proceeds according to the payment plan
that you select. It can provide the maximum amount
of flexibility to address your particular financial
needs -- whether it is a lump sum to pay an
unexpected hospital bill or a stream of regular
payments to supplement your monthly income. You
choose how to spend the money.
Unlike traditional home
equity loans, no repayment of the loan is required
until you no longer occupy the home as your
principal residence. And there are no income,
medical, or credit requirements. When you sell your
home or move, the accrued interest plus any cash the
lender has paid to you becomes due and payable.
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