texas mortgage rates
Your Texas Mortgage Rates
Lending Source

10721 Jackson Lane, Frisco TX 75035

Phone: (214) 387-0683       Fax: (214) 387-0185       Email Us


Home Keeper Mortgage

Now you can have the financial freedom you want with the Home Keeper® Mortgage. This reverse mortgage product is designed to benefit homeowners age 62 or older who are looking for a way to tap their home equity without having to pay back the loan while they still live in their home.

With a Home Keeper mortgage, you borrow against the value of your home and receive loan proceeds according to the payment plan that you select. It can provide the maximum amount of flexibility to address your particular financial needs -- whether it is a lump sum to pay an unexpected hospital bill or a stream of regular payments to supplement your monthly income. You choose how to spend the money.

Unlike traditional home equity loans, no repayment of the loan is required until you no longer occupy the home as your principal residence. And there are no income, medical, or credit requirements. When you sell your home or move, the accrued interest plus any cash the lender has paid to you becomes due and payable.

Fannie Mae's proprietary reverse mortgage product, designed to benefit homeowners age 62 or older who are looking to tap into their home equity without having to repay the loan while they remain living in the home. This product is also available for home purchase - with one transaction seniors can purchase and receive the reverse mortgage financing - reducing both the closing costs and the origination period.

Consumer Benefits

  • Strengthen seniors' financial independence by providing funds without a monthly repayment burden

How it works

  • Borrowers (62 or older) wants to purchase a home that better fits his or her lifestyle (e.g., neighborhood closer to children/grandchildren, smaller yard, single story, less square footage, different room configuration, etc.)

  • Borrower has access to funds via savings, investments, sale of his or her current home, and/or

– doesn’t want to make monthly mortgage payments; and/or

– doesn’t want to tie up all of his or her personal funds in the purchase of a home.

Home Keeper for Home Purchase becomes an option

                      • Borrower completes Home Keeper consumer education requirements and receives certificate.

                      • Senior identifies new property so that reverse mortgage amount can be determined. (Amount the borrower receives depends on age, number of borrowers, and the appraised property value.) Borrower determines combination of personal funds and reverse mortgage funds that will be used to purchase the home.

                      • Borrower negotiates purchase of home and has home inspected.

                      • Borrower applies for loan, completes origination process with lender (includes appraisal and property inspection), determines payout of Home Keeper funds, signs Home Keeper mortgage note, and receives deed to new property.

.                      • Payout will be a line of credit with a lump sum draw at closing for use as purchase funds. Any remaining funds can be retained in the line of credit and/or received as monthly payments for as long as the borrower resides in the property.

Product parameters

Home Keeper for the purchase of a home is a variation of the standard Home Keeper Mortgage. The following differences apply:

Loan purpose

Purchase transaction only.


Loan amount

Amount of loan funds available to borrower is the function of age, number of borrowers, and the adjusted property value. The adjusted property is the lesser of the appraised value or the Fannie Mae loan limit.



  Correcting Your Credit  
  Credit Advice  
Building Good Credit
  Request Your Credit Report
Credit Dispute Letter
Credit File Segregation
Credit Repair
Debt Settlement
Disputing Incorrect Personal Information
  Sample Credit Dispute Letter
Identity Theft Protection
Refinancing To Pay Off Credit Cards
  If You Have Been Scammed
Removing Unauthorized Inquiries
How Long Does Negative Information Stay on Your Credit Report
  Correcting Your Credit  
  FHA Loans  
Bad Credit Mortgage Refinance
Debt Consolidation Vs. Debt Negotiation
Home Mortgage Mistakes Commonly Made
Improve Your Credit Rating
Signs You Need To Consolidate Debt
FHA Loan Rate
FHA Mortgage Rate
  Mortgage Programs  
  Home Equity Loans  
Two Step Mortgage
Rural Housing Loans  
Home Equity Loan Refinancing
My Community Mortgage
Community Home Buyers Program
Home Equity Loan Refinancing
Two Step Mortgage
Simultaneous Second
Finding Home Inspectors

Mortgage Glossary10


Mortgage Rates Apply Online Credit Basics

Home Equity Basics

Mortgage Basics

Contact Us

About Us

Mortgage News  Helpful Articles

Mortgage Calcultator
















10721 Jackson Lane, Frisco TX 75035

214-387-0683EMAIL: info@brown-lending.com


"Your reliable Dallas Mortgage Broker and specialist on Texas Mortgage Rates and Home Mortgage Loans."



Fixed Rate Mortgage