We have made the Box bigger and are excited to offer our Sweet Life Loans. Otherwise know as Home Equity Conversion Mortgage (HECM), is a federally insured loan specifically for seniors, 62 and older, who want to receive tax-free cash payments against the equity of their primary residence. Simply put, a Sweet Life Loan is a powerful financial tool and one of the safest loan products on the market today. In fact: no mortgage payments, increased cash, peace of mind and staying in your home are all benefits of this unique loan.  

Please contact a Box Home Loans Advisor today to learn more and get on the road to financial freedom in your golden years.


Common Questions Answered:

What is a Sweet Life Loan or HECM loan and how do I qualify?

  • A Sweet Life Loan or Home Equity Conversion Mortgage (HECM) is a FHA federally insured home loan that provides seniors 62 years or older the opportunity to convert part of the equity in their home into tax free money.
  • Basic Qualifications:
    • At least one resident must be 62 years old.
    • Must be a primary residence (lived in more than 182 days a year).
    • Must own home (not rent).
    • Should own home outright or have substantial equity
    • Please Call or fill out form to get qualified today

What are the benefits of a Sweet Life Loan or HECM loan and is it right for me?

  •  A Sweet Life Loan is the perfect loan option for an individual 62 years and older looking to increase their cash flow, stay in their home and enjoy life in the golden years. Additionally, a this loan option is right for you if want these benefits:
    • Stay in your home
    • Eliminate your monthly mortgage payment
    • Protect your home from market declines
    • Want more income without affecting Social Security and Medicare benefits
    • Choose what type of cash disbursement
    • Many more benefits…..Please call or fill out form for more information.  

Does the lender take title to my home?

  • No, like a traditional mortgage the title stays in your name.  You have the same ownership rights as a traditional forward mortgage.    When the home is sold or becomes vacant the loan balance will need to be paid.  In short, you own the home, all remaining equity and ultimately you decide what to do with the property when vacated.          

Will my heirs be responsible to pay the debt on the home?

  • No,  all Sweet Life Loan options are federally insured and are non-recourse loans. This means you will never be liable for more than the houses value. Because it is federally insured, if the value of the home drops below the lein you are still only obligated to pay back 95% of the appraised value.  This protects you  from market swings and makes sure your family and heirs are protected from any out of pocket expenses at time of sale.  

How would I receive my Sweet Life Loan funds and how long is my loan?

  • The choice is yours. Sweet Life Loans are extremely flexible, designed to meet your specific needs. Ultimately, the length of the loan will determine the payment options you will have on a Sweet Life Loan. Here are some disbursement options:
    • Full or partial Lump Sum
    • Specific monthly payment (tenure of modified tenure plan)
    • Line of Credit
    • Combination of any of these

Can I obtain a Sweet Life Loan if I have a current mortgage and bad credit?

  • Yes, it is okay if you have a current mortgage. Ideally, the equity in your property is moderate to high to utilize all the benefits of a this loan option.
  • Sweet Life Loans do not use credit as a main qualifying factor. If your credit is not good do not let that stop you from applying. 

When does the Sweet Life Loan become due?

  • Circumstances when the loan becomes due are called “Maturity Events.”  Maturity events are triggered by the last borrower in the following cases:
    • Sells or transfers the home
    • Passes away
    • Does not pay the home’s taxes and insurance
    • Leaves the home permanently or more than 12 months
    • Does not occupy home as primary residence
    • Defaults under the terms of the Sweet Life Loan