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What is a reverse mortgage?
HECM stands for home equity conversion mortgage. Reverse mortgages allow for seniors to release a portion of the home’s equity to eliminate any existing mortgage payments. HECM’s are unique in that there are no monthly mortgage payments required – no other program has this unique feature.
Seniors in CT qualify for a reverse mortgage if…
I qualify for the HECM reverse mortgage how does this program improve my retirement?
How Does the Reverse Mortgage Work in Connecticut?
You have worked hard your entire life to build up your home’s equity, insn’t it time that your home paid you back? Well, FHA (Federal Housing Administration) insures the HECM reverse mortgage which allows you to use your home as a tool to fund your retirement.
Many seniors are still having to pay each month a mortgage payment this is seriously impacting the quality of those seniors retirement. What if you could use all the built up equity in your home to generate a new income source, this would greatly improve the quality of your retirement.
This is what the reverse mortgage program was designed for. Seniors are taking advantage of the low interest rate enviroment and the ability to qualify for a reverse mortgage loan without having income or credit scores to meet. There are no payments to be made (you are only responsible for the property taxes, insurance, and home maintanance expenses). It will cost you $0 to find our your options give us a call today.
Population
Median Home Value
Home Ownership Rate
Percent PopulationOver 65
| LOCATION | POPULATION | MED. HOME VALUE | HOME OWNERSHIP RATE | % POPULATION OVER 65 |
|---|---|---|---|---|
| USA | 307,006,550 | $119,600 | 66% | 13% |
| Connecticut | 3,518,288 | $166,900 | 67% | 14% |
| Bridgeport | 137,912 | $117,500 | 43% | 12% |
| Bristol | 61,161 | $129,300 | 62% | 15% |
| Danbury | 79,285 | $186,500 | 58% | 11% |
| Hartford | 124,512 | $93,900 | 25% | 10% |
| Meriden | 59,439 | $119,000 | 60% | 14% |
| Middletown | 47,481 | $140,400 | 51% | 13% |
| Milford | 53,262 | $168,700 | 78% | 15% |
| Naugatuck | 31,872 | $133,000 | 67% | 12% |
| New Britain | 70,746 | $96,900 | 43% | 16% |
| New Haven | 124,001 | $109,200 | 30% | 10% |
| New London | 25,926 | $107,900 | 38% | 12% |
| Norwalk | 84,187 | $270,100 | 62% | 13% |
| Norwich | 36,324 | $110,900 | 53% | 15% |
| Shelton | 40,142 | $217,300 | 82% | 15% |
| Stamford | 119,261 | $362,300 | 57% | 14% |
| Torrington | 35,903 | $117,400 | 65% | 18% |
| Waterbury | 107,251 | $101,300 | 48% | 15% |
| West Haven | 52,721 | $118,600 | 55% | 14% |
A
Abington · Amston · Andover · Ansonia · Ashford · Avon
B
Ballouville · Baltic · Bantam · Barkhamsted · Beacon Falls · Berlin · Bethany · Bethel · Bethlehem · Bishops Corner · Bloomfield · Bolton · Botsford · Bozrah · Branford · Bridgeport · Bridgewater · Bristol · Broad Brook · Brookfield · Brooklyn · Burlington
C
Canaan · Canterbury · Canton · Canton Center · Centerbrook · Central Village · Chaplin · Cheshire · Chester · Clinton · Cobalt · Colchester · Colebrook · Collinsville · Columbia · Cornwall · Cornwall Bridge · Cos Cob · Coventry · Cromwell
D
Danbury · Danielson · Darien · Dayville · Deep River · Derby · Durham
E
East Berlin · East Canaan · East Glastonbury · East Granby · East Haddam · East Hampton · East Hartford · East Hartland · East Haven · East Killingly · East Lyme · East Windsor · East Windsor Hill · East Woodstock · Eastford · Easton · Ellington · Enfield · Essex
F
Fabyan · Fairfield · Falls Village · Farmington
G
Gales Ferry · Gaylordsville · Georgetown · Gilman · Glasgo · Glastonbury · Goshen · Granby · Greens Farms · Greenwich · Griswold · Grosvenor Dale · Groton · Guilford
H
Haddam · Haddam Neck · Hadlyme · Hamden · Hampton · Hanover · Hartford · Harwinton · Hawleyville · Hebron · Higganum · Huntington
I
Ivoryton
J
Jewett City
K
Kensington · Kent · Killingworth
L
Lakeside · Lakeville · Lebanon · Ledyard · Lisbon · Litchfield · Lyme
M
Madison · Manchester · Mansfield Center · Mansfield Depot · Marion · Marlborough · Mashantucket · Melrose · Meriden · Middle Haddam · Middlebury · Middlefield · Middletown · Milford · Milldale · Monroe · Montville · Moodus · Moosup · Morris · Mystic
N
Naugatuck · New Britain · New Canaan · New Fairfield · New Hartford · New Haven · New London · New Milford · New Preston · New Preston Marble Dale · Newington · Newtown · Niantic · Norfolk · North Branford · North Canton · North Franklin · North Granby · North Grosvenordale · North Haven · North Stonington · North Westchester · North Windham · Northfield · Northford · Norwalk · Norwich
O
Oakdale · Oakville · Old Greenwich · Old Lyme · Old Mystic · Old Saybrook · Oneco · Orange · Oxford
P
Pawcatuck · Pequabuck · Pine Meadow · Plainfield · Plainville · Plantsville · Pleasant Valley · Plymouth · Pomfret · Pomfret Center · Poquonock · Portland · Preston · Prospect · Putnam
Q
Quaker Hill · Quinebaug
R
Redding · Redding Center · Redding Ridge · Ridgefield · Ridgeway · Riverside · Riverton · Rockfall · Rocky Hill · Rogers · Roxbury
S
Salem · Salisbury · Sandy Hook · Scotland · Seymour · Sharon · Shelton · Sherman · Silver Lane · Simsbury · Somers · Somersville · South Britain · South Glastonbury · South Kent · South Lyme · South Willington · South Windham · South Windsor · South Woodstock · Southbury · Southington · Southport · Stafford · Stafford Springs · Staffordville · Stamford · Sterling · Stevenson · Stonington · Storrs · Storrs Mansfield · Stratford · Suffield
T
Taconic · Taftville · Tariffville · Terryville · Thomaston · Thompson · Tolland · Torrington · Trumbull
U
Uncasville · Union · Unionville
V
Vernon · Vernon Rockville · Versailles · Voluntown
W
Wallingford · Warren · Warrenville · Washington · Washington Depot · Waterbury · Waterford · Watertown · Wauregan · Weatogue · West Cornwall · West Granby · West Hartford · West Hartland · West Haven · West Mystic · West Redding · West Simsbury · West Suffield · Westbrook · Weston · Westport · Wethersfield · Whitneyville · Willimantic · Willington · Wilton · Winchester Center · Windham · Windsor · Windsor Locks · Windsorville · Winsted · Wolcott · Woodbridge · Woodbury · Woodstock · Woodstock Valley
Y
Yalesville · Yantic