Our Products

Option One's Mortgage Products

We offer a full range of flexible reverse mortgage options, with lower rates and fees. It’s about giving you options that better fit your needs.
Option One Mortgage Lending offers a full array of Home Equity Conversion Mortgage (HECM) loans, plus the expertise to help you understand and navigate the entire process.

HECM Annual Adjustable Rate: Get greater protection from rising interest rates

HECM Annual is a reverse mortgage whose interest rate adjusts only once a year, with a “lifetime cap” to ensure that your rate will never go beyond a certain percentage above over the initial rate. In addition, there’s an “interval cap” that guarantees that your interest rate cannot increase by more than a certain percentage annually. And to help give you financial flexibility, you have the choice of taking your funds as a lump sum, monthly advances, a line of credit or a combination of these. It’s up to you.

HECM Monthly Adjustable Rate

The interest rate on this HECM fluctuates on a monthly basis, but it also offers more options for homeowners — including a “rate cap” that guarantees that your rate will never go up more than a certain percent over the initial rate (depending on the loan options you choose). You can select a lump sum draw, line of credit, monthly advances, or a combination of these options. For example, you might choose to take some of your cash up front and put the rest in a line of credit, so it’s available when, and if, you need it. You only accrue interest on the money that you actually take.

HECM Fixed Rate

With an interest rate that’s established at the loan closing — and fixed for the life of the loan — you’ll always know exactly how much interest is accruing on your loan. However, with a HECM Fixed Rate, you are required to take all of your money at closing in one lump sum. This may be a desirable choice if you’re using your HECM to pay off a larger existing mortgage or cover other immediate needs.

HECM for Purchase

This home financing solution helps you purchase a new home that will better fit your future needs by taking out a loan on the home you are buying.

Ask about our options with lower closing costs.

The Lower-Cost HECM (Home Equity Conversion Mortgage) from Option One Mortgage Lending offers all the traditional features and benefits of a reverse mortgage, with less closing costs.* If you qualify, you could receive a credit at closing that could cover nearly all your closing costs, while you get access to a new source of funds. For details, please call us today. 1-866-595-2859