HomeSafe Select Intro
Flexible Access to Home Equity for First-Time Reverse Mortgage Borrowers
HomeSafe Select Intro is a proprietary reverse mortgage designed specifically for first-time reverse mortgage borrowers age 55+ with higher-value homes. It combines an initial lump-sum distribution at closing with an ongoing line of credit, giving homeowners immediate access to cash while preserving borrowing capacity for future needs.
Whether you’re looking to improve monthly cash flow, eliminate required principal and interest mortgage payments, refinance an existing mortgage, or purchase a new home, HomeSafe Select Intro provides flexible financing that can adapt to your retirement needs today—and evolve with you in the years ahead.
Unlike an FHA-insured Home Equity Conversion Mortgage (HECM), HomeSafe Select Intro offers expanded lending opportunities, higher loan limits, broader property eligibility, and no FHA mortgage insurance premiums.
Why Choose HomeSafe Select Intro?
Key Features
- Designed for first-time reverse mortgage borrowers
- HomeSafe’s only line of credit option
- Variable interest rate
- Unused line of credit grows by 1.5% annually during the first seven years
- 10-year draw period
- Initial lump-sum distribution available at closing
- Initial draw ranging from 25% to 90% of the available principal limit
- Loan amounts up to $4 million (Massachusetts maximum loan amount: $2,000,000)
- Available to eligible homeowners beginning at age 55 in many states (minimum age varies by state)
- Optional monthly principal and interest mortgage payments*
- No FHA mortgage insurance premiums (MIP)
- Non-recourse protection—the borrower or heirs can never owe more than the home’s value when the loan becomes due and payable
- No prepayment penalty
- Expanded condominium eligibility
- Minimum property value of $450,000
- May also be used to purchase a home (borrowers make the required down payment to establish sufficient equity), with eligible seller concessions of up to 6%
*Borrowers must continue paying property taxes, homeowners insurance, HOA dues (if applicable), and maintain the home.
Common Uses:
- Eliminating required monthly principal and interest mortgage payments*
- Supplementing retirement income
- Paying off existing debt
- Home improvements and aging-in-place renovations
- Healthcare or long-term care expenses
- Purchasing a retirement home
- Creating an emergency reserve
- Covering unexpected life events
- Supporting a broader retirement income strategy
Important Considerations
- Available only in approved states
- Qualification guidelines apply
- Proprietary reverse mortgage—not FHA-insured
- Variable interest rate
- Interest rates may be higher than comparable FHA-insured HECM products
- The line of credit growth feature differs from—and may be less robust than—the growth available with an FHA-insured HECM line of credit
- The draw period is limited to 10 years
- Requires a minimum initial draw of 25% of the available loan amount at closing
- Borrowers remain responsible for paying property taxes, homeowners insurance, HOA dues (if applicable), and maintaining the home
- Because interest and any financed fees accrue over time, home equity will generally decrease over the life of the loan
Product Eligibility Highlights
- Loan Amount: Up to $4 million
- Minimum Property Value: $200,000
- Minimum FICO Score: 600
- Minimum Borrower Age
- Age 55 in most participating states
- Age 60 in North Carolina
- Age 62 in Massachusetts and Washington
- Available in approved states including: AZ, CA, CO, CT, DC, FL, GA, HI, ID, Il, LA, MI, MO, MT, NV, NJ, NC, OH, OR, PA, RI, SC, TX, UT, VA. Broker: MA, NY and WA.
- Availability, eligibility requirements, and product guidelines are subject to change.
A Good Fit For Those Who:
- Are considering a reverse mortgage for the first time
- Own a higher-value home
- Prefer flexible access to home equity rather than a single lump-sum distribution
- Want an available line of credit for future needs
- Anticipate healthcare expenses or other unexpected retirement costs
- Prefer not to pay FHA mortgage insurance premiums
- Own a non-FHA-approved condominium
- Want to incorporate home equity into a comprehensive retirement strategy
- Value optional monthly mortgage payments rather than required principal and interest payments
Is HomeSafe Select Intro Right for You?
If you’d like immediate access to a portion of your home equity while keeping additional funds available for future needs, HomeSafe Select Intro may be an excellent solution.
Its flexible line of credit is designed for homeowners who want greater control over when and how they access their equity—helping them respond to life’s expected and unexpected expenses with confidence.
The right reverse mortgage depends on your age, home value, existing mortgage balance, retirement goals, anticipated cash-flow needs, and long-term financial plans.
A Fairway Reverse Mortgage Specialist can help you compare FHA-insured and proprietary reverse mortgage options, explain the differences, and determine whether HomeSafe Select Intro is the best fit for your retirement strategy.
Discover how flexible access to your home equity can help strengthen your retirement—today and for years to come.
Contact a Fairway Reverse Mortgage Specialist today to learn more.
Fairway Signature® reverse mortgage products are proprietary reverse mortgages developed by Longbridge Financial, LLC. These proprietary reverse mortgage products are offered by Fairway and are separate from and are not affiliated with the FHA-insured Home Equity Conversion Mortgage (HECM) program. Qualification requirements apply.
Let’s start a conversation.
If you are interested in a HomeSafe Select Intro loan or want more information, contact us today.
Our experienced team will help you understand HomeSafe Select Intro loans so you can make an informed decision about whether it’s the right financial solution for you.
*Borrower must live in the home, maintain it, and pay critical property charges like taxes and insurance.
**This does not constitute tax or financial advice from Fairway. Please consult a tax professional or financial advisor regarding your specific situation.