Reverse Mortgages (HECM)
Turn home equity into income in retirement - age 62 and up.
A Home Equity Conversion Mortgage (HECM) is a reverse mortgage insured by the FHA. Homeowners aged 62 and older can convert a portion of their home equity into a lump sum, monthly payments, or a line of credit - with no required monthly mortgage payment.
What a Reverse Mortgages (HECM) Looks Like
A quick read on who this program fits, what it takes to qualify, and where the money goes - so nothing feels like a surprise.
Who It’s For
Turn home equity into income in retirement - age 62 and up.
- Homeowners age 62+
- Retirees supplementing fixed income
- Homeowners who want to age in place
How You Qualify
Underwriting reviews credit, income, and the property together to build the loan.
- Youngest borrower age 62+
- Primary residence
- Sufficient equity
What It Costs
N/A for existing homeowners. HECM for Purchase requires a substantial down payment from the buyer. - Typically higher than a traditional mortgage due to FHA mortgage insurance premiums and origination fees.
- No required monthly mortgage payment
- Flexible payout options (lump sum, monthly, or line of credit)
- Non-recourse - you or heirs never owe more than the home is worth
What You’ll Need to Qualify
- Youngest borrower age 62+
- Primary residence
- Sufficient equity
- Ability to pay property taxes, insurance, and maintenance
- HUD-approved counseling
Have These Ready
- Photo ID
- Proof of homeowners insurance
- Property tax record
- HUD counseling certificate
Not Sure If You Qualify Yet?
A licensed loan advisor will walk your numbers with you - no credit pull, no obligation. You’ll leave the call knowing exactly what to fix first.
The Upside - and What to Weigh
Every program has trade-offs. Here’s the honest picture side by side, without the marketing gloss.
Benefits
- No required monthly mortgage payment
- Flexible payout options (lump sum, monthly, or line of credit)
- Non-recourse - you or heirs never owe more than the home is worth
- Remain the homeowner
Considerations
- Reduces the equity passed to heirs
- Closing costs and mortgage insurance apply
- Loan balance grows over time
- HECM counseling adds a required step and a small counseling fee before you can close
- Homeowners under age 62
- Homeowners who plan to move within a few years
- Borrowers who cannot budget for taxes, insurance, and upkeep
Run the Numbers on a Reverse Mortgages (HECM)
Adjust the price, down payment, and rate to see an estimated monthly payment. Great for narrowing the search before you formally apply - a quick preapproval confirms your real numbers.
Estimate only. Taxes, insurance, and PMI vary by location and loan program.
Get Preapproved
From Application to Keys in Typically 30–45 days including required HUD counseling.
- 01Apply
Quick online form or a 10-minute call.
- 02Verify
Income, assets, and credit reviewed together.
- 03Appraisal
Property value confirmed for the loan amount.
- 04Close
Sign, fund, and get your keys.
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Questions We Hear About Reverse Mortgages (HECM)
Can’t find yours here? A licensed advisor can walk through your specific situation in under 15 minutes.
Straight answers, no pressure - email or call directly.
See if a Reverse Mortgages (HECM) Fits Your Situation.
A 10-minute preapproval gives you real numbers and a licensed advisor to answer questions - no pressure, no obligation.
