Reverse Mortgage

To qualify for a HECM, you must be at least 62 years old, live in your home as your primary residence, and have enough equity in your home. Lenders also assess your ability to maintain the home and pay taxes and insurance.

What Loan Officer will I be working with? You’ll be working directly with Ryan Murray, CFP®, the founder and licensed Mortgage Broker behind Murray Mortgage Solutions. Ryan personally handles all Reverse Mortgage consultations and loan applications to ensure every client receives experienced, ethical, and conflict-free guidance.

As a CERTIFIED FINANCIAL PLANNER™ professional, Ryan brings a level of expertise and fiduciary responsibility that most loan officers simply don’t offer. He doesn’t just understand mortgage products, he understands how they fit into your overall retirement strategy, estate planning, and long-term financial well-being. Visit our About Page to learn more about Ryan.

A HECM allows you to access the equity in your home in the form of a lump sum, monthly payments, or a line of credit. You are not required to make monthly payments. The loan is repaid when the home is sold or upon the homeowner’s death.

Costs for a HECM can include origination fees, mortgage insurance premiums, and closing costs. The fees can be financed as part of the loan, meaning they are added to the total loan balance rather than being paid upfront. All fees will be disclosed in advance so you can make an informed, stress-free decision.

No, you will not lose ownership of your home with a Home Equity Conversion Mortgage (HECM) loan. With a reverse mortgage, you retain full ownership of your home. The loan is secured by your home’s equity, but you are still responsible for maintaining the property, paying taxes, and keeping homeowners insurance active. The loan is repaid when the last borrower leaves the home or passes away, at which point the home may be sold to satisfy the loan.

A HECM (Home Equity Conversion Mortgage) is a government-insured reverse mortgage, backed by the Federal Housing Administration (FHA). The majority of Reverse Mortgages (0ver 97%) are HECM's.

The user experience with a Mortgage Broker and bank/retail lender is the same in many ways, you work directly with us and our loan officers, just as you would with the loan officers at a bank/retail lender. The key difference is where your loan is funded and how that impacts your options, rates, and costs.

When you work with a bank or direct to consumer retail lender, you’re limited to that institution’s loan products, rates, and guidelines.

As a Mortgage Broker, we still handle the entire process, but instead of using a single bank’s products, we access wholesale mortgage lenders that fund the loans. These lenders don’t work directly with consumers, they provide funding through brokers like Murray Mortgage Solutions, allowing for lower rates, reduced fees, and a wider range of loan options.

So while the process may feel similar, working with a Mortgage Broker not only provides access to better rates and lower fees but also delivers a more personalized, flexible, and streamlined experience tailored to your needs. Visit our “What is a Mortgage Broker” article to learn more.