HomeSafe Standard
Fixed-Rate Stability with Maximum Cash-Out for Higher-Value Homes
HomeSafe Standard is a proprietary reverse mortgage designed for homeowners age 55+ who want the stability of a fixed interest rate while accessing a significant portion of their home equity. It offers a compelling solution for homeowners with higher-value properties who may benefit from greater borrowing flexibility than a traditional FHA-insured Home Equity Conversion Mortgage (HECM).
Whether you’re looking to improve monthly cash flow, eliminate required principal and interest mortgage payments, refinance an existing reverse mortgage, or purchase your next home, HomeSafe Standard provides flexible financing tailored to your retirement goals.
Unlike an FHA-insured HECM, HomeSafe Standard offers expanded lending opportunities, higher loan limits, broader property eligibility, and no FHA mortgage insurance premiums.
Why Choose HomeSafe Standard?
Key Features
- Competitive fixed interest rate
- Single lump-sum distribution at closing
- Loan amounts up to $4 million (Massachusetts maximum loan amount: $2,000,000)
- Borrowers with a FICO score above 740 may qualify for a simplified financial assessment
- Available to eligible homeowners beginning at age 55 in many states (minimum age varies by state)
- Unlike an FHA-insured HECM, eligible borrowers may use loan proceeds to pay off debts at closing to help satisfy income qualification requirements
- 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, including many non-FHA-approved condominiums through a streamlined Fannie Mae Limited Review process
- Minimum property value of $200,000
- Up to 100% of available loan proceeds may be received at closing
- 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
- Building an emergency reserve
- Creating greater financial flexibility throughout retirement
Important Considerations
- Available only in approved states
- Qualification guidelines apply
- Proprietary reverse mortgage—not FHA-insured
- Interest rates may be higher than comparable FHA-insured HECM products
- 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 Massachusetts, New York, and Washington
- Age 62 in North Carolina and Texas
- Available in approved states including: AZ, CA, CO, CT, DC, FL, GA, HI, ID, IL, LA, MI, MN, MO, MT, NV, NJ, NC, OH, OR, PA, RI, SC, TX, UT, VA. (Note, available as brokered product in MA, WA.)
- Availability, eligibility requirements, and product guidelines are subject to change.
A Good Fit For Those Who:
- Own a higher-value home
- Want the predictability of a competitive fixed interest rate
- Need substantial upfront loan proceeds
- Prefer not to pay FHA mortgage insurance premiums
- Own a non-FHA-approved condominium
- Want to use loan proceeds to pay off debt as part of the qualification process
- Want to incorporate home equity into a comprehensive retirement strategy
- Value optional monthly mortgage payments rather than required principal and interest payments
Is HomeSafe Standard Right for You?
If you’re looking for a proprietary reverse mortgage that combines competitive fixed-rate stability, substantial loan proceeds, and expanded qualification flexibility, HomeSafe Standard may be an excellent solution.
The right reverse mortgage depends on your age, home value, existing mortgage balance, retirement goals, income 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 Standard is the right fit for your retirement strategy.
Discover how your home equity can help strengthen your retirement—while you continue living in the home you love.
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 Standard loan or want more information, contact us today.
Our experienced team will help you understand HomeSafe Standard 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.