OmniHome Financing - More Than Reverse Mortgages

OmniHome provides financial solutions for professionals, clients, individuals, and families.  We assist them in accomplishing their goals.

Many of our clients are referrals from legal, taxation, financial planning, insurance and investment professionals.

We take pride in advancing their client's goals. In the process, we often serve the professional community, providing reverse mortgage solutions to meet their personal needs as well.

• Customer Care - You deserve to work with a company that cares about you and your needs. We take the time to develop a relationship with you before, during and after the transaction because we want to be a trusted resource to you for life.


• Human Touch - At OmniHome, you are matched with a personal representative who will be there for you as your primary point of contact. We know automated phone systems are frustrating. You’ll always get a live voice during our business hours & calls are returned the same day.


• Outstanding Service - Our business is serving you. Our entire staff of caring people is dedicated to providing you with the high level of service & respect that you deserve. Our goal is to exceed your expectations & earn referrals to others you care about.


• Integrity - OmniHome is committed to earning your trust through consistent, ethical conduct. We are AA rated by the Better Business Bureau and subscribe to the Code of Ethics mandated by the National Reverse Mortgage Lenders Association.


• Commitment to Excellence - You deserve the best in the industry. From personal one-on-one attention, to state-of-the-art, streamlined processing, OmniHome is there for you to process your transaction quickly & efficiently and to be a continuing resource to you for life.


• Education First - Making great choices requires understanding the benefits & options available to you. Our first priority is to educate you on the opportunities available to improve your life. Your knowledgeable, personal representative will make sure all your questions are answered.

At OmniHome, we're proud of our reputation for integrity and we adhere to the highest ethical standards in dealing with seniors and their advisors.

We are a member of NRMLA, the National Reverse Mortgage Lenders Association, and we subscribe to the NRMLA Code of Conduct and Best Practices Standards created to protect seniors from predatory lending practices.

The most popular program is the Home Equity Conversion Mortgage, or HECM, administered through the U.S. Department of Housing and Urban Development (HUD).

Among HECM's consumer protections are many important features:

• Standard & Capped Interest Rates - The interest rate is the same no matter which lender a senior chooses. On HECM, interest rates are adjusted either monthly or annually and based on the 1-year U.S. Treasury Constant Maturity Rate published weekly by the Federal Reserve. Both the monthly and annually adjusted rates have lifetime caps.


• Limitation on Fees - Origination fees are limited by HUD regulations and may be financed as part of the reverse mortgage. Meaning a senior incurs limited costs to participate.


• Free Counseling - Before a reverse mortgage application can be processed, the prospective borrower must first meet with an independent counselor. HUD oversees a network of counselors whose job is to review the transaction, answer any questions the borrower may have about reverse mortgages and suggest alternative options.


• No Maturity Date - A reverse mortgage cannot become due during the homeowner's lifetime. No required payments and a lifetime right to occupy the home provides great protection against unforeseen or unfortunate future events, rendering reverse mortgages safer than other loan alternatives.


• No Prepayment Penalty - Although the loan is not due and payable until the senior permanently moves out of the home, it can be paid-off at any point prior with no additional fees or costs.


• The Right to Rescind - Even after the final loan signing, a senior has up to three days to cancel the transaction, for any reason.


• Asset Protection - The HECM is a "non-recourse" loan. This means that the amount due can never exceed what the home is worth. Title to the home always remains with the borrower. When the loan becomes due, the lender is repaid the sum of funds advanced plus the accrued interest, but never more than the value of the house. If there is remaining value, it belongs to the homeowner or the estate.


• No Shared Appreciation - No reverse mortgage product in the marketplace has "equity-sharing" or "shared appreciation" features. In some earlier reverse mortgage products, the senior could obtain more money in exchange for giving up a percentage of the future value of the home. These products are no longer offered and have become obsolete.