Ken Keranen (Reverse Mortgage Division of HSL) Mortgage and Lending



Ken Keranen
location_on Carlsbad, CA — Reverse Mortgage Division of HSL
Get to Know Ken Keranen

I was one of the Nation's first full time HUD/FHA Reverse Mortgage originators. I took my first reverse mortgage application in Issaquah, WA on March 15, 1993.  Since that time, I've guided hundreds through the Government's Reverse Mortgage Process as a loan officer, branch manager and department head. I started the Reverse Mortgage Division for Seattle Mortgage (since purchased by the Bank of America). While there, I got excited about the possibility of someone using a Reverse Mortgage to purchase a home. 

To explore this further I made formal presentations to both the National Reverse Mortgage Lenders Association (NRMLA), of which I was a founding Board of Directors member, and to the Mortgage Bankers Association (MBA). All that aside, today my greatest passion is explaining precisely how the program works to seniors, their families, financial advisors and to Realtors.  I very strongly believe that seniors wishing to purchase thier "retirement home" should take a look at this program before making the decision to pay all cash for what may be their final home. 


The Reverse Mortgage for Home Purchase Program allows your potential senior buyers to purchase a new home with no credit and no income requirements.  Buyers 62+ can now make a sizeable down payment, depending on their age, and make no principal and interest payments.  The loan does not have to be paid back until your buyer dies, moves or reaches age 150.  Yes, that's how the note reads!

Benefits of the program:

Your client does not have to pay all cash for the home. The loan is insured by the Federal Housing Administration (FHA). There are no monthly mortgage payments.  The home can be sold at any time without a pre-payment penalty. The title remains in your client's name or their trust. Here's a Down Payment Approximator to give you an idea about how much of a down is needed.



Active in FHA Reverse Mortgage lending for 17 years. My main focus is the Reverse Mortgage for Home Purchase Program whereby 62+ seniors can purchase their retirement home w/out a monthly payment.