Licensing & Disclosures
Licensing
Jason Scott Gray, Branch Manager, NMLS 118354. NEXA Lending, NMLS 1660690. Branch NMLS 2555212. Company State License AZMB 2006218 (Arizona). Branch office: 1524 Market Street, Suite 103, Kirkland, WA 98033. Phone 425-260-3482. Licensed in Washington State. Verify licensing at NMLS Consumer Access.
Not a government agency
Home Freedom Advisors and NEXA Lending are not a government agency and are not affiliated with HUD, FHA or any government agency. This material has not been approved by HUD, FHA or any government agency.
About HECM mortgages
Important information. Home Freedom Advisors is a marketing name used by Jason Scott Gray, a loan originator with NEXA Lending. We are not a government agency and are not affiliated with HUD, FHA or any government agency. This material has not been approved by HUD, FHA or any government agency.
A HECM mortgage is a loan. No monthly mortgage payment is required, but borrowers must continue to pay property taxes, homeowners insurance, any HOA dues and other property charges, keep the home in good repair, and live in the home as their primary residence. Failing to meet these obligations can cause the loan to become due and payable and could result in foreclosure. The loan becomes due when the last surviving borrower (or eligible non-borrowing spouse) permanently leaves the home, sells it, or passes away. Interest and fees are added to the loan balance over time, so the balance grows and home equity decreases. Borrowers (or heirs) will never owe more than the home is worth at the time of sale, per FHA insurance rules. FHA HECM borrowers must be at least 62. HUD-approved counseling is required before applying for a HECM. HECM mortgage proceeds may affect eligibility for some need-based programs such as Medicaid or SSI; consult a tax advisor and benefits professional. Not all applicants will qualify; subject to credit, property and program guidelines. This is not a commitment to lend. No rates are quoted on this site.
Borrowers must be at least 62 years old (FHA HECM). HUD-approved counseling is required before applying; a list of counselors is available from HUD.
Equal Housing Opportunity
We do business in accordance with the Fair Housing Act and the Equal Credit Opportunity Act.