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You can access cash from a portion of your home equity without incurring income tax* (generally, it won’t affect your Social Security and basic Medicare benefits). You can use the funds how you want.
You have the option to repay as much or as little of the loan balance each month as you would like, or you can make no monthly mortgages payments at all. Of course, you must still maintain the home and pay homeowners insurance and property taxes, just like a traditional mortgage.
The FHA guarantees no repayment of the loan is required until the last borrower moves out or passes away. When you move out of your home, you or your estate has up to 12 months to repay the loan balance, which is typically achieved by selling the home.
The FHA guarantees that if the balance on the loan exceeds the home value at the time the home is sold, neither you nor your heirs will be responsible for paying the deficit (the FHA will pay it). If there are excess proceeds from the sale of your home, you (or your heirs) would receive them.
• You remain on the title and you own the home
• You can sell your home at any time
• Line of credit growth feature
With a HECM reverse mortgage line of credit, the unused portion of the line of credit grows each month at the same rate as the loan balance. In other words, you’ll have access to even more funds over time, regardless of home value.
After Kathleen Scarcelli’s husband passed, she was in the difficult position of wanting to keep her home but not having enough money to enjoy life with monthly mortgage payments. Her reverse mortgage loan offered life-changing financial freedom.
Dan was very helpful and made buying our first home a little less stressful by ensuring the whole mortgage process went smoothly from pre-approval through closing. He was always quick to answer questions and respond to our calls and emails.
Kathryn M.Dan and the team at Fairway Mortgage exceeded our expectations every step of the way. They were confident, efficient, informative and a pleasure to work with.
Rebecca C.Dan and his staff have made our refinancing super easy!! They have been nothing but courteous, professional and always prompt at returning our calls & emails. I would highly recommend Dan & Fairway Mortgage to others!
Joan L.No doubt the best mortgage company. Dan Ventura and staff are knowledgeable and extremely attentive. I refer them every opportunity I have. Buying, financing and refinancing are difficult and stressful...they take all the pain away.
Tracy D.Dan helped me through the process of purchasing a home and made it a enjoyable exsperiecing. He worked hard and help me with the paperwork, it literally took just a few weeks and my wife and I owned a new beautiful home.
Jeffrey W.Dan Ventura and the team at Fairway are incredibly efficient, professional and competent. A mortgage is a huge decision and the service on such a transaction is very important. Fairway go above and beyond from start to finish. I would highly recommend them to anyone looking to secure financing.
Stephen B.Dan from Fairway was amazing. He is very polite, friendly and professional. We were in a rush to close on our home and Dan was able to get it done. He also help us increase our credit scores so we could get a better rate. For anyone looking to buy a home Fairway is your best option for a mortgage.
James G.My husband and I have worked with Dan Ventura since 2013 during the purchase of our new home and multiple refinances since then. Dan is excellent to work with as he is professional, responsive and patient. He makes what can be a stressful and overwhelming process seem simple.
Erica W.The Communication was excellent from the whole team. Dan was outstanding as well as Molly- Explaining the process and answering any questions. A Seamless process. I would highly recommend.
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(Borrower must still pay property charges like taxes, insurance and upkeep)
• A lump sum payout
• Fixed monthly advances
• Tenure (life of the loan)
• Term (set period of time)
• A line of credit
• A combination of monthly payments and a line of credit
The borrower(s) must:
• Be 62 years or older
• Live in the home as their primary residence and either own the home outright or have significant equity in the home
• Meet minimum credit and property requirements
• Must receive reverse mortgage counseling from a HUD-approved counseling agency
• Must not be delinquent on any federal debts
• Single family residence
• 2- to 4-unit properties
• Manufactured homes
• Modular homes
• Planned unit developments
• Townhomes
• FHA-approved condominiums
Fairway Independent Mortgage Corporation
Daniel Ventura
President of Fairway Reverse Lending Division,
Retirement Mortgage Specialist
NMLS ID #19372
NMLS Consumer Access
Fairway Independent Mortgage Corporation
40R Merrimac Street, Suite 301W
Newburyport, MA 01950
Complaints may be directed to:
877-699-0353
Or email us:
[email protected]
Copyright©2025 Fairway Independent Mortgage Corporation (“Fairway”) NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. All rights reserved. Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old. Monthly reverse mortgage advances may affect eligibility for some other programs. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Equal Housing Opportunity.
