What is One Eleven Mortgage?

One Eleven Mortgage manages 5 data types including access accounts. Helps you organize, track, and share your work in 1 place for teams and solo users.

Do I still own my home?

Yes. You retain title to your home as long as you meet the loan requirements, including living in the property as your primary residence and keeping taxes, insurance, and maintenance current.

Do I have to make a monthly mortgage payment?

A reverse mortgage does not require monthly principal and interest payments while the loan requirements are met. You must continue paying property taxes, homeowners insurance, applicable HOA dues, and home maintenance costs.

Can a reverse mortgage be used to buy a home?

Eligible borrowers may use a HECM for Purchase to buy a new primary residence using a combination of their own funds and reverse mortgage proceeds.

What happens when the loan becomes due?

The loan is generally repaid when the home is sold, the last borrower permanently leaves the home, or the loan requirements are no longer met. Borrowers and heirs should discuss their specific options with a qualified loan officer.

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Specialty

Reverse Mortgages

Turn a portion of your home equity into greater financial flexibility while continuing to own and live in your home.

Overview

A reverse mortgage can help eligible homeowners age 62 and older access a portion of their home equity without a required monthly principal and interest payment. Funds may be available as a lump sum, line of credit, monthly advances, or a combination depending on the program. The loan becomes due when the last borrower permanently leaves the home, sells it, or no longer meets the loan requirements.

Who It May Fit

Homeowners age 62 and older who want to explore using home equity to support retirement, improve monthly cash flow, refinance an existing mortgage, or purchase a different primary residence.

Potential Benefits

No required monthly principal and interest payment while loan requirements are met
Remain the owner of your home
Flexible ways to receive available proceeds
Proceeds are generally not considered taxable income; consult a tax advisor
HECM for Purchase may help eligible buyers purchase a new primary residence

Important Considerations

The home must remain the borrower’s primary residence
Property taxes, homeowners insurance, maintenance, and applicable HOA dues must remain current
Interest and loan charges accrue over time and reduce available equity
HUD-approved counseling is required for FHA-insured HECM loans
The loan becomes due when the last borrower sells, permanently moves out, or no longer meets loan requirements

FAQs

Reverse Mortgages Specialists

4.99(176)

Kahren Oxner

Founder & CEO

NMLS #590552

OR WA CA ID TX CO FL AZ

Kahren founded One Eleven Mortgage to provide clients and realtor partners with unmatched options and a personal, boutique experience. With years of experience across conventional, government, and Non-QM lending, she specializes in complex scenarios — investors, self-employed borrowers, and ITIN financing.

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Next Step

See if It Fits Your Goals

Connect with a One Eleven loan officer to review eligibility, structure, and next steps.

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