Reverse Mortgages (HECM) in PhoenixHaving substantial home equity but needing more financial flexibility in retirement?
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Licensed Mortgage Loan Originator•NMLS #1455718
When You Need Reverse Mortgages (HECM)
A HECM is worth a serious look if you're 62 or older, have built up substantial equity in your Valley home, and want more financial breathing room in retirement. Phoenix homeowners use reverse mortgages to pay off an existing mortgage so there is no required monthly principal and interest payment, supplement Social Security or a fixed income, cover medical or in-home care costs, delay drawing down retirement accounts, or simply create a standby line of credit for peace of mind. You can even use a HECM to purchase a right-sized home closer to family or with less upkeep. It's typically a fit for people who plan to stay in their home for the long haul. You still have to keep up with property taxes, homeowners insurance, and basic maintenance, and I'll make sure you understand those responsibilities clearly before you decide anything. With any reverse mortgage, you must continue to pay property taxes, homeowners insurance, and any HOA dues, keep the home as your primary residence, and maintain the property. Failing to do so can result in the loan becoming due.
Our Reverse Mortgages (HECM) Process
The process starts with a relaxed 15-minute call or text where I learn about your home, your age, and what you're hoping to accomplish. HECMs require independent counseling from a HUD-approved agency, which protects you and makes sure you fully understand the program, and I'll point you to trusted counselors. I run a soft credit check early so there's no impact on your score. From there I can give you a same-day estimate of how much you may be able to access. My AI-powered document tools make sharing paperwork simple, even if you're not tech-savvy, and I'm happy to help by phone. HECMs generally take a bit longer than a standard loan because of counseling and appraisal steps, often around 30 to 45 days. Throughout it all, I keep you and your family fully in the loop.
Reverse Mortgages (HECM) Cost in Phoenix
A HECM has a few costs to understand: an FHA mortgage insurance premium, an origination fee, an appraisal, and standard closing costs, many of which can be financed into the loan itself. What you can borrow depends on your age, your home's appraised value, and current lending limits. Because these loans are government-insured, they carry important consumer protections, including non recourse protection, which means you or your heirs will not owe more than the home's value when the loan is repaid through a sale. I give you a clear, written breakdown of every cost and how it affects your equity before you move forward, with no hidden fees and no rush. You can also learn more directly from HUD, and I'll gladly review any of it with you and your family.
Why Choose Us
Reverse mortgages deserve patience and honesty, and that's exactly how I work with Phoenix seniors and their families in Mesa, Scottsdale, Chandler, Gilbert, and Tempe. Ten years in the business and 60-plus five-star reviews from real Valley homeowners. I shop dozens of lenders to find you the best HECM terms, a single bank can only offer its own product. You'll always know what I'm doing and why, in plain English. Same-day response on every text and call. And if a HECM isn't actually right for you, I'll tell you that too, because my job is to help you make the best decision, not just close a loan.
Consolidated our loans into one and result was a lower monthly rate. Worked out great for us.
Mark was very professional and fully understood his products and my needs. I had several questions and his follow-up was great. I would recommend him and your company for financial needs.
I have worked with Mark Fazio for years I would highly recommend him to be your loan officer whether you are purchasing or refinancing your home. He is very quick to respond and make sure his clients are taken care of. He will make sure you feel like you picked the right person to work with for your loan. Thanks Mark for being so awesome to work with!
Ready to Get Started?
Curious whether a reverse mortgage makes sense for you? Let's talk it through, no pressure and no obligation, and get you real numbers. Call or text Mark at (480) 690-9790.
To compare this with other ways to finance a home in retirement, see all of our Mortgage Broker options in Phoenix.
Reviewed by
Mark Fazio, Licensed Mortgage Loan Officer
NMLS #1455718 · Barrett Financial Group (NMLS #181106) · Phoenix, AZ
Mark Fazio is a Phoenix mortgage broker with Barrett Financial Group (NMLS #1455718) with 10+ years of experience and over 1,000 home loans closed. He shops dozens of lenders to find the lowest rate on purchase, refinance, and specialty loans, and personally guides every client from the first call through closing.