Every situation is different. These scenarios show how the same planning-first approach adapts to the specific challenges Long Island homeowners face in retirement.
Buy a new home — closer to family, more manageable — with no monthly mortgage payment. The H4P lets buyers 62+ combine a down payment with a reverse mortgage.
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A proprietary HELOC with minimum payments as low as 1% annually, 40-year terms, capped payments, and non-recourse protection. A different way to access equity.
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When a couple over 62 divorces, the family home is usually the most valuable asset. A HECM can help one spouse keep the home without the other's income.
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Non-FHA reverse mortgage alternatives for higher-value Long Island homes that exceed standard HECM lending limits. Jumbo options with flexible terms.
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Access equity through a second lien while keeping your existing low-rate first mortgage in place. Ideal when refinancing would mean losing a favorable rate.
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Replace an existing mortgage — including a current reverse mortgage — with a new FHA-insured reverse mortgage for better terms or more equity access.
Read the Full Scenario →— Perry Pappas, NMLS# 3771
A 20-minute conversation will give you clarity. No obligation — just an honest assessment of what makes sense for you.
Book a Time With PerryOr call: 516-851-0696