Reverse Mortgage

Retire Easy with a HECM Reverse Mortgage 

NMLS # 713357

Use your home equity to earn cash back during retirement with a reverse mortgage. 

Convert the equity you've built up in your home into additional funds through a Home Equity Conversion Mortgage loan (or HECM), otherwise known as a reverse mortgage. This unique loan is available for people 62 years and older.

Request a FREE Consultation by filling out the form below!

Benefits of a HECM Reverse Mortgage:

  • More cash is available during retirement

  • Proceeds are tax-free*

  • Buy a home that better fits retirement needs

  • No monthly payments required**

  • Have a bigger safety net

  • Defer taking your social security

  • Preserve your investment accounts

  • Pay off any high-interest credit cards

*Consult tax advisor

**Borrowers are responsible for paying their property taxes and homeowner's insurance along with (if any) HOA fees


Use a Reverse Mortgage to:

  • Improve your Lifestyle

  • Travel

  • Cover Medical Bills

  • Make Home Improvements

  • Refinance or Pay Off Your Mortgage

  • Buy a New Home


Request a FREE Consultation by filling out the form below!

How a HECM Reverse Mortgage Loan Works

A reverse mortgage converts a portion of your home equity into cash. The amount loaned is determined by the age of the youngest borrower, the current interest rate, the lesser of the appraised value or FHA mortgage limit. To be eligible, you must be 62 years or older and live in your home as a primary residence. 

  • There are no monthly prinicpal or interest payments*

  • Title of the home remains with the borrower**

The loan is typically repaid when the last borrower or eligible non-borrowing spouse no longer occupies the home as the primary residence.


*Borrowers are responsible for paying their property taxes and insurance along with (if any) HOA fees. When the home is no longer the primary residence of the last borrower, the loan balance is paid off, and, typically, the remaining equity goes to the borrowers/family.

**Must comply with terms of mortgage. 

Is a reverse mortgage right for you? Get a FREE consultation to find out. 

Fill out the form below and we'll contact you to set up a consultation.


The region's reverse mortgage expert is ready to help you with your housing needs!

Contact Disclosure

By submitting your contact information, you are providing your signature and express "written" consent to be contacted by Northwestern Bank, N.A., via email address, text message, or phone (even if it is a cellular phone number or other paid service for which the called or messaged person(s) could be charged for such call or text) that you have provided for purposes of fulfilling this inquiry about reverse mortgages, even if you have previously registered on a "do not call" government registry or requested the bank to not send marketing information to you by email and/or direct email. Consent is not required as a condition of utilizing Northwestern Bank, N.A.'s services. You understand that you can revoke this consent at any time. This is not a commitment to engage in a loan transaction. 

Overall Disclosure

Borrower must occupy home as primary residence and remain current on property taxes, homeowner's insurance, the costs of home maintenence, and any HOA fees. A set-aside account can be set up to pay taxes and insurance and may be required in some cases. Borrower retains title until they sell or transfer the property or does not otherwise comply with the loan terms. The loan becomes due and payable when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, defaults on taxes or insurance payments, or does not otherwise comply with the loan term. A reverse mortgage increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). Subject to Financial Assessment. Charges such as an origination fee, mortgage insurance premiums, closing costs, and/or servicing fees may be assessed and will be added to the loan balance. All loan products and loan amounts may not be available in your area and are subject to change without prior notice. Some products may not be offered directly by Northwestern Bank, N.A., but are offered through a lender with who Northwestern Bank has a business relationship. Other restrictions and limitations apply. All rights reserved. 

Northwestern Bank, N.A., NMLS ID 713357, 4 North Main St, P.O. Box 10, Dilworth, MN 56529.