Quoting HomeForLife as a broker
Who HomeForLife fits, its eligibility at a glance, and how Start a Loan and Tape Qualification quote it next to HECM.
What HomeForLife is
HomeForLife is a proprietary reverse mortgage offered through the wholesale channel. It is not FHA-insured, it is priced at a fixed rate, and it reaches borrowers HECM cannot: the youngest borrower can be as young as 55, and loans go up to $4.0 million. Borrowers 62 and older qualify too, so many scenarios are worth quoting both ways.
Eligibility at a glance
- Youngest borrower 55 or older. Some states set a higher floor. The current states and their minimum ages are on
My Rate Sheetsunder the HomeForLife sheet's Eligibility section. - Minimum property value $200,000. The floor is on the home's value, not the loan amount.
- Maximum loan $4.0 million.
- Primary residence only.
- No non-borrowing spouse (NBS). A younger non-borrowing spouse is a deal-killer to catch on the first call.
- FICO below 640 (lower borrower's mid-score) means a fully funded LESA. No waivers.
This is a summary for licensed mortgage professionals. The full HomeForLife Underwriting Guidelines and the current product matrix control every file.
Quoting in Start a Loan
Open Start a Loan and enter the youngest borrower's date of birth, the property state, the home value, and the current mortgage balance, then compare programs. Every program you can sell is priced side by side:
- A program the scenario doesn't qualify for shows Ineligible with the reason (for example, HECM for a borrower under 62, or HomeForLife in a state it isn't offered in) and can't be selected.
- Cash Out Before Closing Costs is the cash available before the origination fee and third-party costs.
- Broker compensation comes from your rate sheet for that program.
Tape Qualification
When you upload a loan tape, each loan is matched to HECM or HomeForLife. Loans under the $200,000 minimum property value, or in a state or age band HomeForLife doesn't cover, are priced as HECM only. Estimated compensation on the results page is calculated from your rate sheet.
When to quote HECM instead
Quote the HECM side by side when there is a younger non-borrowing spouse, a manufactured home, or a borrower who wants a line of credit that grows over time.
Getting help
Ask the AI assistant in ReversePilot, available on every page, or call your account executive for a scenario review.
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