Become a partner.

Become a FAR partner to take advantage of premiere financial products, pipeline management tools, and our signature “white-glove” service to process loans quickly and get your clients on the path to retirement. To begin the new partner application process, please submit your contact information below.










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By submitting this request for information, I hereby provide my signature, expressly consenting to receive information by email or phone, via automated dialing systems, texting, and/or prerecorded messages, from or on behalf of Finance of America Reverse LLC and its fulfillment partners and may agree to receive other offers on the telephone number I provided above, including my wireless number, even if I am on a State or Federal Do-Not-Call list. I understand consent is not a condition of purchase and that I may revoke my consent at any time. I can revoke consent by calling FAR customer service at 855-421-4745, or contacting my loan officer.

Join the #1 wholesale lender‡ today!

When Every Second Counts
Empower clients and your business with HomeSafe Second, a groundbreaking home equity product for addressing financial uncertainty without the burden of a new monthly payment or the need to refinance.

How It Works

HomeSafe Second loans customers a portion of their home equity. With no additional monthly payments required until they leave their home or stop paying property charges, the balance of their loan will grow over time. When they leave the home, they or their heirs will be responsible for paying back the loan, which can be settled with the sale of the house, but will never amount to more than the home’s value.

A Second Mortgage That Puts You and Clients First

HomeSafe Second puts your business in position to help a growing demographic of customers looking to address rising costs and debt without impacting the favorable rates of their current mortgage.

Supports Your Bottom Line

A relevant product that addresses a growing demographic’s needs in a time when every sale counts

Faster To Close

Turn leads into sales quickly with a reduced financial assessment and easier loan processing

Instantly Creates New Leads

With more and more clients facing economic uncertainty, solid leads may already exist in your database

Fights Inflation For Clients

As retirement costs rise, borrowers can use home equity to improve cash flow and find financial relief

Preserves First Mortgage Rates

Clients that took advantage of historically low rates do not need to refinance their current mortgage

Improves Cash Flow With Equity

Unlike a HELOC, it avoids cutting into a budget with a new monthly payment

Who It Helps

Meet Dave

Dave took advantage of previous low interest rates and refinanced his mortgage, but now inflation is forcing him to cover rising costs to his budget with a high-interest credit card. HomeSafe Second lets him unlock his equity to consolidate debt and gain financial flexibility in uncertain times.

Dave's Options for Financial Flexibility

HomeSafe Second gives Dave and many like him a new and powerful option when looking to improve cash flow.

Credit Card Personal Loan HELOC
Credit Type Revolving Close-ended Open-ended Close-ended
Interest Rate Type Variable Fixed Variable Fixed
Interest Rate** 19.58% 13.5-15.5% 7.6% 9.99%†
Funds Disbursement Revolving Lump Sum Line of Credit Lump Sum
Monthly Payment Yes Yes Yes No
Missed Payments Affect Credit Yes Yes Yes No
Closing Costs No Yes Yes Yes
Collateral Unsecured Unsecured Secured by Home Secured by Home

 

For business and professional use only. Not for consumer distribution. This guide is intended for informational purposes only and should not be construed as legal, compliance or tax advice. Consult with your own compliance department or legal counsel for guidance specific to your situation.

Stand Out With HomeSafe Second

Sign up for a HomeSafe Second training session and be among the first to offer this helpful product to clients.

Product Training On Demand
Marketing Training November 8, 2:00PM EST
Product Training November 16, 2:00PM EST

Frequently Asked Questions

Another common concern is that there will be nothing left of the estate to leave heirs once a borrower passes away, or worse, they will end up saddling their heirs with even more debt. The non-recourse feature of a reverse mortgage assures that borrowers and their estate will never owe more than the value of the house. In the event the debt exceeds the value of the home, heirs can simply walk away. This is a worst-case scenario, and relates to the second lien mortgage only. The borrower’s first lien mortgage, which has not been replaced or extinguished, may be a recourse loan.
A borrower may also be concerned that they could somehow lose their home if they obtain a reverse mortgage. As long as the borrower continues to manage their responsibilities – live in the home as the primary residence, pay the property taxes, homeowner’s insurance, flood insurance (when applicable), HOA dues, maintain the home, meet all of the first-lien mortgage obligations (when permitted by state law), the reverse lender will not be able to foreclose on the home, even if the unpaid balance exceeds the value of the home. If a borrower does not meet these obligations, the loan servicer will attempt to contact them to resolve the situation. We highly recommend borrowers keep an open line of communication with the servicer when any issues arise.
Since payments are not being made on the reverse second mortgage, it’s common for some reverse mortgage borrowers to feel like they no longer own their home. This is not the case. A reverse mortgage is just like any other mortgage, meaning that there is a lien on the house that has to be paid back at some time, but the borrower still owns the home subject to the lien(s) and their name remains on the title.
A reverse second mortgage borrower can enjoy all the benefits a reverse mortgage can bring to life, including making no monthly mortgage payments on the reverse mortgage. However, the borrower must, continue to live in the home as the primary residence, pay homeowner's insurance, real estate taxes, and any applicable HOA or condominium assessments and fees, keep the first mortgage current when permitted by law, maintain the home, and comply with the obligations in the security instruments. A reverse second mortgage does not change any of the requirements associated with the first lien mortgage, including the requirement that borrowers make timely payments to the first lien servicer.
In addition to interest, the costs can include a property appraisal fee, origination fee, closing costs, servicing fee and a modest charge for independent counseling. While closing costs vary based upon the type and size of the loan, they’re similar to those for any traditional mortgage. Borrowers can roll most of the up-front costs into the loan, so out-of-pocket expense can be minimized, and borrowers can reduce their costs by taking a lower amount of proceeds that are available to them. We will give you a detailed cost breakdown and explain the different interest and pricing options available.
If a borrower permanently leaves the home, the reverse loan servicer will issue a Repayment Notice that states the mortgage is due and payable.
Reverse mortgages have a non-recourse feature, which means that the total amount that borrowers owe on the reverse mortgage can never exceed the appraised value of the home. However, if the home increases in value, all equity that remains once the reverse mortgage and first liens are paid off belongs to the borrower and their estate.
As long as the terms of the HomeSafe Second reverse loan and any first lien loan are met, a reverse second mortgage does not have to be repaid until the home is no longer the primary residence of at least one borrower or the home is sold. Usually, the last surviving borrower or their estate sells the home to repay the loan(s). Existing liens may also be repaid from other assets, proceeds from a life insurance policy, or a loan refinance subject to any first lien loan-related restrictions.
A reverse second mortgage offers greater flexibility in repayment - no monthly mortgage payments are required. Borrowers must continue to pay the existing first mortgage payment, property taxes, homeowners’ insurance, flood insurance (when applicable), HOA dues and maintain the home.

*Currently available to eligible homeowners ages 55+ in CA, CO, CT, FL, SC, and TX (where the minimum age is 62).

**National interest rate averages as of January 2023. Source: www.bankrate.com

† Rate effective as of XX/XX/XXXX. Available on fixed-rate, first lien, full draw, non-FHA, HomeSafe jumbo reverse product only. APR may vary based on specific loan terms. Availability subject to loan approval, individual financial analysis and other factors. Amount of loan proceeds available depends on age, home value, and rate. An origination fee of up to X% of your principal limit may be assessed by us upon the consummation of your loan. Settlement closing costs are also required with your loan, including items such as an appraisal report, credit report fee, title insurance premium and recordation fees, and generally range up to $XXXX. This is an estimate and amount may vary by state. Term of loan based on borrower life expectancy. Repayment due in a single payment upon maturity (when the last borrower passes away, you sell the home or no longer occupy the home as your principal residence) or you the borrower default. You may be directly responsible for the payment of real estate taxes and hazard insurance on your home, depending on whether your loan requires a property charge “set-aside” from principal limit. Additional terms and conditions apply. Advertised rates subject to change without notice

‡If you are considering debt consolidation, consult a nonprofit credit counselor.

©2023 Finance of America Reverse LLC is licensed nationwide | Equal Housing Opportunity | NMLS ID # 2285 (www.nmlsconsumeraccess.org) | 8023 East 63rd Place, Suite 700 | Tulsa, OK 74133 | AZ Mortgage Banker License #0921300 | Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act | Georgia Residential Mortgage Licensee #23647 | Kansas Licensed Mortgage Company | Massachusetts Lender/Broker License MC2285: Finance of America Reverse LLC | Licensed by the N.J. Department of Banking and Insurance | Licensed Mortgage Banker — NYS Banking Department where Finance of America Reverse is known as FAReverse LLC in lieu of true name Finance of America Reverse LLC | Rhode Island Licensed Lender | Not all products and options are available in all states | Terms subject to change without notice | For licensing information go to: www.nmlsconsumeraccess.org

For Reverse Loans. When the loan is due and payable, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to borrowers, who may need to sell the home or otherwise repay the loan with interest from other proceeds. The lender may charge an origination fee, mortgage insurance premium, closing costs and servicing fees (added to the balance of the loan). The balance of the loan grows over time and the lender charges interest on the balance. Borrowers are responsible for paying property taxes, homeowner’s insurance, maintenance, and related taxes (which may be substantial). We do not establish an escrow account for disbursements of these payments. A set-aside account can be set up to pay taxes and insurance and may be required in some cases. Borrowers must occupy home as their primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan also becomes due and payable (and the property may be subject to a tax lien, other encumbrance, or foreclosure) when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, defaults on taxes, insurance payments, or maintenance, or does not otherwise comply with the loan terms. Interest is not tax-deductible until the loan is partially or fully repaid.
If you are thinking about debt consolidation, you might want to first consult a non-profit credit counselor.

The HomeSafe reverse mortgage is a proprietary product of Finance of America Reverse LLC and is not affiliated with the Home Equity Conversion Mortgage (HECM) program. Not all HomeSafe products are available in every state. Please contact us for a complete list of availability.