Reverse
convert the equity in your homeReverse Mortgages
A Reverse Mortgage from Hercules First Federal Credit Union is a smart financial solution for homeowners aged 62 and older who are looking to convert the equity in their home into accessible cash without having to sell or move. With a reverse mortgage, you can use the value of your home to supplement your retirement income, pay off existing debts, or cover other expenses—without the pressure of monthly mortgage payments.
Borrow
Borrowing Against Your Home's EquityHow Does a Reverse Mortgage Work?
A reverse mortgage allows you to borrow against the equity in your home, with the loan being repaid when you sell the home, move out, or pass away. You are not required to make monthly payments. Instead, the loan balance grows over time, as interest and fees accumulate, and is settled when the property is sold.
Key Benefits of a Reverse Mortage
- Supplement Retirement Income: Access the equity in your home to help cover everyday expenses, healthcare costs, or travel plans, making retirement more comfortable.
- No Monthly Payments: Unlike traditional mortgages, you’re not required to make monthly payments. The loan is repaid when the home is sold or when you move.
- Stay in Your Home: As long as you continue to live in your home and maintain it, you can remain in your home for as long as you like.
- Flexible Payment Options: Choose from several payment options, including lump sums, monthly payments, or a line of credit, based on your financial needs.
- Federally Insured: Our reverse mortgages are backed by the Federal Housing Administration (FHA), providing peace of mind and ensuring the safety of your investment.
Qualify
Accessible Cash Without SellingWho Qualifies for a Reverse Mortgage?
To qualify for a reverse mortgage, you must meet the following criteria:
- Be 62 years or older
- Own and live in the home as your primary residence
- Have enough equity in the home
- Be able to demonstrate the ability to maintain the home and pay property taxes, insurance, and other related expenses
Choose
Why us?Why Choose Hercules First Federal
Credit Union for Your Reverse Mortgage?
Personalized Service
Our experienced mortgage specialists will guide you through the entire process, ensuring you understand the terms and helping you find the best option for your situation.
Competitive Rates
We offer competitive rates and flexible terms to ensure you get the most out of your reverse mortgage.
Trusted Lender
As a member-focused credit union, we are committed to your financial well-being and offer transparent, straightforward lending options.
Apply Now
If you’re 62 or older and looking for a way to supplement your retirement income, a reverse mortgage could be the perfect solution. Contact one of our mortgage specialists today to learn more about how a reverse mortgage can help you achieve your financial goals!
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Rates
View Our RatesReverse Mortgage Rates
*INCLUDES A 1% ORIGINATION FEE
Rates current as of July 03, 2025
** Rates, fees, and Annual Percentage Rates (APRs) displayed may change without notice. Actual rates, fees, and APRs may vary based on credit scores and other factors. Minimum down payment varies based on loan type selected. Mortgage loans are subject to closing costs. Loans with a Loan to Value (LTV) of 80% or higher are subject to Private Mortgage Insurance (PMI).