Choice Program

What Is the Choice Proprietary Mortgage for Seniors?

The Choice proprietary mortgage for seniors is a private loan designed for homeowners aged 55 and older (in most states) who want to purchase or refinance a home without the constraints of the HECM program.

Unlike the FHA-insured Home Equity Conversion Mortgage, the Choice program is not bound by lending limits or standard government underwriting. This makes it an excellent fit for higher-valued homes, unique property types, and situations where traditional HECM doesn’t apply.

What It Shares with HECM

While Choice is a proprietary product, it shares important features with the FHA HECM program, including:

• No required monthly mortgage payments
• Non-recourse protection (you’ll never owe more than the home’s value)
• Negative amortization structure (the loan balance grows over time)

Key Features & Benefits

• Available to borrowers 55+ in most states
• Loan amounts up to $4 million
• No mortgage insurance premiums
• Lower upfront costs compared to HECM
• Can be used for primary residences only
• Works with non-FHA-approved condos (in some cases)
• No minimum property value required
• Access funds in a lump sum (line of credit may be available in select states)
• Funds are non-taxable and can be used for any purpose

Is The Choice Proprietary Mortgage for Seniors Right for You?

If you're seeking a mortgage solution with fewer restrictions and greater flexibility than a standard HECM, the Choice proprietary mortgage for seniors may be exactly what you need. With lower upfront costs and access to more equity, this product is ideal for retirees looking to simplify and strengthen their financial picture.

Reach out today to get a custom mortgage snapshot and see how Choice compares with other options.