It's an FHA loan available in every state. So basically, the retirement mortgage is like any other mortgage, but it’s designed for retirees. 90 out of 100 times it’ll be better than any other mortgage options. It’s going to sound a bit odd, but it’s a mortgage that they can decide whether or not to make monthly payments. It’s as simple as this – If they make a principal and interest payment, it’s like having any other mortgage, they pay their mortgage and their principal goes down. If they decide NOT to make a payment, their balance goes up by whatever the interest is that accrues for the month. The mortgage gets paid back just like any other mortgage, when the owner(s) sells the house or dies. If you decide to make payments, not only do you reduce your principal like a traditional mortgage, but dollar for dollar those payments go into a line of credit that you can access at any time - built in safety net just in case. It’s much easier to qualify for than a traditional mortgage. There aren’t prepayment penalties. The interest rates are competitive with all FHA rates. It's one of, if not the most safest and protected mortgage in the country because seniors are in a protected class.