Reverse Mortgage
Reverse Mortgages (HECM) in Indiana
If you own your home in the Indianapolis area, Fishers, Carmel, or anywhere across Hamilton County and you are 62 or older, a reverse mortgage may be one of the most powerful and misunderstood tools available to you. Tevis Durbin and the Durbin Team at Supreme Lending have walked Indiana homeowners through this decision for over 26 years, and the goal is always the same: make sure you understand exactly what you are getting into before you sign anything. A Home Equity Conversion Mortgage (HECM) is not right for everyone, but for the right homeowner it can eliminate a monthly mortgage payment, provide a cushion of cash, and let you stay in the home you love for as long as you choose.
How it works
A HECM lets you convert a portion of the equity you have built in your Indiana home into usable cash, without selling the property and without making a monthly mortgage payment. The loan is federally insured through the Federal Housing Administration, which means the program operates under consistent national rules and consumer protections. You can receive your money as a lump sum, a line of credit you draw from as needed, regular monthly disbursements, or a combination of those options depending on what fits your situation. The loan balance grows over time as interest accrues, and repayment comes due when the home is sold, when you permanently move out, or when the last borrower on the loan is no longer living in the home. Your heirs can repay the loan and keep the property, or they can sell the home and keep any equity that remains above the loan balance. Because it is a non-recourse loan, neither you nor your estate will ever owe more than the home is worth at the time of sale.
One point Tevis emphasizes with every Indiana family considering this option: you remain the homeowner. That means you are still responsible for property taxes, homeowners insurance, and maintaining the home. Those obligations do not go away. The Durbin Team will walk you through exactly what that looks like for your budget before you move forward.
Who it fits
- Indiana homeowners aged 62 or older who want to age in place without the burden of a monthly mortgage payment.
- Retirees in the Indianapolis area or Hamilton County who have substantial equity and want to access it without selling.
- Seniors whose fixed income covers daily living but leaves little room for unexpected medical expenses, home repairs, or simply enjoying retirement.
- Homeowners who want to establish a growing line of credit as a financial safety net, even if they do not need the funds immediately.
- Families thinking through long-term care planning and looking for ways to fund it without liquidating other assets.
What you need to qualify
- You must be 62 years of age or older. If there are two borrowers, both must meet the age requirement.
- The home must be your primary residence in Indiana. Investment properties and vacation homes do not qualify.
- You must have substantial equity in the property. A HECM is not designed for homes with large outstanding balances relative to their value.
- Before you can proceed, HUD-approved counseling from an independent, federally approved counselor is required. This is not a formality. It is a protected step designed to make sure you fully understand the loan before you commit.
- A financial assessment is part of the process. This confirms you have the ability to keep up with property taxes, homeowners insurance, and basic home maintenance going forward.
- The home must meet FHA property standards, which your Durbin Team loan review will help you confirm early in the process.
Reverse mortgages carry a reputation for complexity, and some of that reputation is earned. There are real decisions to make and real trade-offs to weigh. What Tevis and the Durbin Team bring to the table is 26-plus years of experience cutting through the noise so Indiana homeowners can make a clear-headed choice. If you are considering a HECM for your home in Fishers, Carmel, Indianapolis, or anywhere in the greater Hamilton County area, reach out to the Durbin Team today. There is no pressure and no obligation, just a straight conversation about whether this program makes sense for you.
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