Important Disclosures
Government Program Disclaimers
This material is not from HUD, FHA, or any government agency and has not been reviewed by HUD or a government agency. Access Home Lending is not affiliated with any government agency.
Reverse Mortgage Loan Terms and Conditions
Reverse mortgage loan terms include occupying the home as your primary residence, maintaining the home, paying property taxes and homeowners insurance. Although these costs may be substantial, Access Home Lending does not establish an escrow account for these payments. However, a set-aside account can be set up for taxes and insurance, and in some cases may be required. Not all interest on a reverse mortgage is tax-deductible and to the extent that it is, such deduction is not available until the loan is partially or fully repaid.
Access Home Lending charges an origination fee, mortgage insurance premium (where required by HUD), closing costs and servicing fees, often rolled into the balance of the loan. Access Home Lending charges interest on the balance, which grows over time. When the last borrower or eligible non-borrowing spouse dies, sells the home, permanently moves out, or fails to comply with the loan terms, the loan becomes due and payable (and the property may become subject to foreclosure). When this happens, some or all of the equity in the property no longer belongs to the borrowers, who may need to sell the home or otherwise repay the loan balance.
Required Counseling
Before obtaining a HECM reverse mortgage, you must receive counseling from a HUD-approved housing counseling agency. This counseling is designed to help you understand the loan terms, costs, and alternatives.
Equal Housing Opportunity
Access Home Lending is an equal housing lender committed to ensuring that all persons have equal access to mortgage credit regardless of race, color, religion, sex, handicap, familial status, or national origin.
Home Equity Conversion Mortgage (HECM) Additional Disclosures
A reverse mortgage can increase the principal mortgage loan amount and decreases home equity (it can be a negative amortization loan if the homeowner does not make payments that equal or exceed the interest accumulated for that month).
General Loan Information
All loans subject to credit approval and property appraisal
Interest rates shown are subject to change without notice
Your actual rate will depend on your credit profile, loan program, and market conditions
Not all applicants will qualify for all loan programs
Additional restrictions and requirements may apply
Licensing Information
For licensing information, go to: www.nmlsconsumeraccess.org
NMLS# 2625502
Access Home Lending is headquartered at 23832 Rockfield Blvd, Suite 235, Lake Forest, CA 92630
Contact Information for Complaints
If you have a complaint, you may contact us at:
Access Home Lending
Email: digital@accesshl.com
Phone: (800) 460-5490
Address: 23832 Rockfield Blvd, Suite 235, Lake Forest, CA 92630
You may also contact your state's regulatory agency or file a complaint with the Consumer Financial Protection Bureau at www.consumerfinance.gov.
State-Specific Complaint Information
Texas Residents
CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV.
