Personal » Additional Resources » Reverse Mortgage FAQs

What are the types of Reverse Mortgages available?

There are two types of Reverse Mortgage options available to meet your individual needs:

  • HUD/FHA Home Equity Conversion Mortgage (HECM)
    A government-insured program that provides cash, a line of credit or a monthly income as long as the person lives in the home.

  • HECM for Purchase Program
    Created by the Housing and Economic Recovery Act of 2008, this allows a senior to relocate by purchasing a new principal residence and obtain a Reverse Mortgage within a single transaction, eliminating the need for a second closing.

Need Help?

Need Help?

Contact Us Today:
1-800-242-2265
Dollar Bank representatives are available Monday - Friday from 8:00 AM to 8:00 PM.

E-mail Us »

This link redirects you to a website that Dollar Bank does not maintain. To proceed to this website, click the Continue button. To stop and return to the previous page, click the Cancel button.

CONTINUE CANCEL
The launch of our new website is in progress. The following webpages will transition to the new format in the near future. Click Continue below to be directed to Dollar Bank's secure online application.

CONTINUE CANCEL
Click Continue below to be directed to Dollar Bank's secure Online Banking system.

CONTINUE CANCEL
The launch of our new website is in progress. The following webpages will transition to the new format in the near future.

CONTINUE CANCEL