1. Talk to a specialist
30-60 minutes
You’ll speak with a reverse mortgage specialist who can answer every question and give you a clear picture of what’s possible—completely free, with no obligation to apply.
Access your equity & keep your low-rate mortgage
HomeSafe Second1 is a reverse second mortgage that lets you unlock home equity—without taking on a new monthly mortgage payment.2
Excellent 4.7 out of 5 stars3
2The borrower must meet all loan obligations, including meeting all loan obligations under the first lien mortgage, living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.
Is HomeSafe Second right for you?
Get a quick overview below, or dive into our decision guide for the full picture.
Could be good for:
- Keeping a low first mortgage rate in place
- Avoiding a new monthly mortgage bill2
- Homes with significant built-up equity
- Tapping equity for planned or unexpected costs
May not be right for:
- Preserving home equity for future inheritance
- Homes with limited available equity
- Those unable to maintain condition of their home
- Homeowners looking to move soon
2The borrower must meet all loan obligations, including meeting all loan obligations under the first lien mortgage, living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.
See where HomeSafe Second is available
HomeSafe Second is currently available in select states, with additional states being added often. If your state isn’t shown below, we do have other reverse mortgage products available.
Available
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From first call to closing, here's what to expect
2. Complete required counseling
1-2 hours
In some states, counseling is required before applying—and we also include it as part of our process. This session is with an independent counselor who works for you, helping you understand your options, costs, and alternatives so you can make a confident, informed decision.
3. Submit your application
15 minutes
A loan officer walks you through each part of the paperwork. You’ll always know where things stand and what’s coming next.
4. Home appraisal and review
1-3 weeks
An appraiser visits your home to confirm its market value, which is used to finalize your loan amount. During the underwriting review, your processor will provide regular updates so you’re never left wondering what’s next.
5. Loan approval
2-3 days
If approved, you’ll receive confirmation that your loan is approved and ready to close. Your loan officer will walk you through the final numbers and make sure all your questions are answered before signing.
6. Funds arrive
1 hour + 3 days
After signing, there’s a 3-business-day waiting period. During this time, you can cancel for any reason. Once that period ends, your funds are delivered based on how you chose to receive them. You can cancel within that time, no questions asked.
Answers to the questions homeowners ask most
A reverse second mortgage lets you access a portion of your home equity without replacing your current mortgage. Similar to a home equity line of credit (HELOC), it sits behind your existing mortgage, so your current interest rate and loan terms stay unchanged. Unlike a HELOC, no new monthly payments are required.* You can choose to make payments at any time without penalty—and in any amount, including the full balance, a partial payment, or nothing at all. Interest accrues on the outstanding balance and is added to the loan amount over time. Consumer protections help ensure that neither you nor your heirs will owe more than the home’s value when the loan becomes due. Learn more
*The borrower must meet all loan obligations, including meeting all loan obligations under the first lien mortgage, living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.
While a reverse mortgage doesn’t require monthly mortgage payments*, there is an important tradeoff to understand. Like any loan, a reverse mortgage charges interest. If you choose not to make payments, the interest is added to the loan balance over time, which means the amount owed can grow.
The good news is that you can pay as much or as little as you’d like—including nothing at all. Any payments you make can help reduce the amount of interest that accrues, slow the growth of the loan balance, and preserve more of your home equity.
*The borrower must meet all loan obligations, including meeting all loan obligations under the first lien mortgage, living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.
HomeSafe Second has some upfront costs, like other mortgages. Borrowers must continue paying standard home costs—such as property taxes, homeowners insurance, HOA fees, and their first mortgage—while also covering certain loan-related costs. These include required HUD-approved counseling (typically $150–$200), a home appraisal (around $800), a loan origination fee (varies by state, capped at $4,995), and other closing costs such as credit reports, flood checks, title fees, escrow fees, and recording fees. Some of these costs may be included in the loan amount.
HomeSafe Second does not require monthly principal and interest payments.* Instead, interest accrues over time and is added to the loan balance. The loan, including accrued interest, is typically repaid when the loan becomes due. Learn more about costs
*The borrower must meet all loan obligations, including meeting all loan obligations under the first lien mortgage, living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.
HomeSafe Second and home equity line of credit (HELOC) offer homeowners different options for accessing a portion of their home equity. HomeSafe Second provides a one-time lump sum payment or non-revolving line of credit* with no new monthly mortgage payment required.** Interest on drawn balances continues to accrue and is added to the loan balance. A HELOC offers ongoing access to home equity, requiring a monthly payment on the money withdrawn. Learn more
*While HomeSafe Second Line of Credit permits amounts up to the total principal limit to be accessed in multiple or staged draws, the product is closed-end, meaning that drawn amounts, once repaid, are not permitted to be redrawn. HomeSafe Line of Credit is not a revolving loan product. Currently, available to borrowers in California.
**The borrower must meet all loan obligations, including meeting all loan obligations under the first lien mortgage, living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.
No—you keep ownership of your home with a HomeSafe Second reverse mortgage as long as you meet all loan obligations, including meeting all loan obligations under the first lien mortgage. You can remain in your home as long as it’s your primary residence and you stay current on property taxes, homeowner’s insurance, and basic property maintenance. The lender cannot take your home just because the loan balance grows.
A HomeSafe Second loan is repaid when the homeowner moves out, doesn’t meet the loan conditions, or passes away. The loan can be settled by selling the house or by using other assets if the borrower or heirs prefer to keep the house. Most importantly, the borrower or heirs won’t owe more than the home’s value when the loan becomes due and the home is sold.
Important legal disclaimers
1The HomeSafe reverse mortgage is a proprietary product of Finance of America and is not related to the Home Equity Conversion Mortgage (HECM) program. HomeSafe products are only available in certain states. Please contact us for a complete list of availability.
2The borrower must meet all loan obligations, including meeting all loan obligations under the first lien mortgage, living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.
3As of July 2026. Rating based on verified reviews from Trustpilot.com.
4For certain HomeSafe products only, excluding Massachusetts, New York, and Washington, where the minimum age is 60, and North Carolina and Texas where the minimum age is 62.
5The minimum loan amount is $50,000, except in Oregon ($50,000.01) and Utah ($70,000).
6The right to remain in the home is contingent on paying property taxes and homeowner’s insurance, maintaining the home, and complying with the loan terms.
7While HomeSafe Second Line of Credit permits amounts up to the total principal limit to be accessed in multiple or staged draws, the product is closed-end, meaning that drawn amounts, once repaid, are not permitted to be redrawn. HomeSafe Line of Credit is not a revolving loan product. Currently, available to borrowers in California.
