The HomeSafe Second Proprietary Mortgage for Seniors

At Freestone Mortgage, we’re always looking ahead-and when it comes to retirement lending, innovation matters. That’s why we offer the HomeSafe Second Proprietary Mortgage for Seniors, an advanced, data-driven solution designed for homeowners aged 55+ who want access to their equity without refinancing or eliminating their existing first mortgage.

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What Is the HomeSafe Second?

The HomeSafe® Second is a fixed-rate, second-lien retirement mortgage offered through Finance of America. It allows homeowners to keep making payments on their existing first mortgage while unlocking a portion of their home’s equity, with no additional monthly mortgage payment requirements. This loan is a lump sum of cash that gets deposited into the homeowner’s bank account. Since there are no monthly mortgage payments due on this equity loan, the interest accrues on the back end of the loan and is paid back when the home is refinanced or sold.

Who It’s For

The HomeSafe® Second is an ideal fit for homeowners in Oregon who:

  • Are age 55+
  • Have a low mortgage balance and equity in their home
  • Want to maintain their first mortgage
  • Need funds for expenses but don’t want to add new monthly obligations
  • Have considered credit cards or personal loans but prefer a more sustainable solution

Key Features & Benefits

  • Second lien position (your first mortgage remains in place)
  • Fixed interest rate
  • No monthly mortgage payments required
  • Lump sum disbursement
  • Non-recourse loan (you’ll never owe more than your home is worth)
  • Maximum combined loan amount: $4 million, minus your first lien balance
  • Funds can be used for anything

Compared to a HELOC

The HomeSafe® Second was built with seniors in mind, offering features not typically available in traditional lending:

  • ❌ No fixed term
  • ❌ No interest rate adjustments
  • ❌ No required monthly payments
  • ✅ Lower LTVs to protect long-term equity
  • ✅ Lump Sum Cash Dispersement

Where Is HomeSafe Second Available?

📍 Freestone Mortgage offers the HomeSafe Second program in:

  • Oregon

How to Get Started

Getting started is simple, streamlined, and fully supported by the Freestone team: ✅ Step 1: Contact us for a complimentary and custom loan snapshot
✅ Step 2: Complete your HUD-approved counseling session
✅ Step 3: Submit your application and documents
✅ Step 4: Underwriting will review and if approved, we close your loan!
✅ Step 5: Access your funds, with no added monthly mortgage payment obligation

HomeSafe Second FAQs

Q: Can a borrower apply without a first mortgage?
A: No. If there is no first lien, we recommend applying for HomeSafe® Standard instead. Q: Are there seasoning requirements for the first lien?
A: Yes. The first mortgage must be at least 12 months old.Q: Are LESAs (Life Expectancy Set-Asides) allowed?
A: No. If the borrower doesn’t pass financial assessment, they are not eligible for this product. Q: Can a HECM or HomeSafe Standard be converted to a HomeSafe Second?
A: Yes-as long as the application is still active.

Is The HomeSafe Second Proprietary Mortgage for Seniors Right for You?

The HomeSafe® Second proprietary mortgage for seniors is redefining what’s possible for homeowners nearing or in retirement. Whether you need cash for upgrades, caregiving, financial flexibility, or a once-in-a-lifetime trip, this loan allows you to preserve your first mortgage while unlocking equity as cash on your terms.

Reach out today for a customized, data-driven mortgage analysis and explore whether the HomeSafe® Second is your next smart move.

How much do you qualify for?

No Obligation. No Credit Check.