Cornerstones of Success
When it comes to helping individuals and families achieve successful homeownership, Academy is 1st CHOICE. For over 30 years, we have delivered exceptional mortgage service, in-house loan fulfillment, a broad portfolio of products and tools, and integrity-based mortgage banking.
Draper, UT 84020
A HECM is a government insured loan that enables homeowners a way to turn equity locked in their home into tax advantaged cash (consult your financial advisor) giving you monthly mortgage payments options. An important thing to remember is your name stays on title, so you own your property. This is a non-recourse loan so there is no debt left to heirs. The property must be maintained and the home owners insurance and taxes must be kept current.
If you are 62 years old or older, own and live in the home (must be your principal residence)
There is a calculation to determine the amount of money that is eligible. The calculation is based on age, appraisal of the home, and current interest rates.
A HECM can be used to purchase a home, often referred to as H4P. It can also be used to refinance a first and/or second traditional mortgages. Other reasons could include: increasing monthly cash flow, pay off credit card or medical bills, home repairs or improvements, travel, gifts, the list can go on.
I have been in the financial world for over 25 years. I have worked in various areas and studied different products and services. Currently I am a licensed mortgage loan officer at Academy Mortgage Corporation. I specialize in Home Equity Conversion Mortgage (HECM) products. HECM's are Reverse Mortgages insured by FHA.
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We are proud to be one of the top independent purchase lenders in the country. We achieved this distinction by continually providing exceptional customer service and by following responsible lending practices, especially in today's rapidly changing economy.
—Adam Kessler, CEO, Academy Mortgage