HECM FOR CARE
Use Home Equity To Pay For Care
This loan program helps seniors utilize the equity in their homes to afford professional in-home care, assisted living, or skilled nursing. ​​
THE CHALLENGE
The Cost of Care is Rising
Thanks to modern medicine, people are living longer and enjoying more time with loved ones. But for many seniors, there comes a point—due to Alzheimer's, dementia, a physical limitation, or other health needs—when day-to-day life requires outside professional care.
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However, paying for a professional or skilled nurse to provide in-home care can be very expensive - especially since most seniors rely on a fixed income to survive financially. Many can only afford a portion of the care hours that they actually need, which places a huge burden on the caregiver, spouse, children, and/or patient – and in this situation, everyone suffers.
80% of older adults - or 32 million households - do not have the financial resources to pay for just two years of nursing home care or four years of assisted living.
Source: NCOA, 2023
THE SOLUTION
What Options do Seniors Have?​
One option is a HECM for Care program—a Home Equity Conversion Mortgage that turns a portion of home equity into tax-free cash flow seniors can use to afford professional in-home care, while staying independent at home.
Program Benefits:
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You Get the Professional In-Home Care, Assisted Living or Skilled Nursing That You Need
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You or Your Trust Remain the Owner of Your Home, Protecting Your Children’s Inheritance
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You Will Never Have to Pay a Monthly Mortgage Payment Again
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You May Qualify for Monthly, Tax-free Income Based on Your Equity
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Your Income Stream is Even if Your Home Value Declines
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Social Security and Medicare Benefits Are Not Affected
Half of homeowners 62+ have at least 55% of their net worth tied up in home equity—yet most seniors think of their wealth as only stocks, bonds, and cash.
By unlocking a portion of home equity for care, a HECM for Care also helps preserve the rest of their retirement assets.
