Reverse Mortgage | Home Equity Conversion Mortgage

The Home Equity Conversion Mortgage (HECM) Reverse Mortgage is FHA’s reverse mortgage program, which allows borrowers of age 62 or older to convert a portion of their home equity into cash.

Loan Program Details

• 62 years of age or older
• 1-4 family home or FHA approved condo
• Property must be borrower’s primary residence
• Substantial equity in their home
• Participated in HUD-approved HECM counseling
• Borrower’s estate can never owe more than the home’s worth (non-recourse)
• The DEED to the home stays in borrower’s name
• You never need to make a mortgage loan payment. However, you must still pay taxes and insurance.
• You will continue to receive benefits even if the lender defaults

We’ve made applying for a Reverse Mortgage easy. To start your loan application and get preapproved click here, to find a local loan officer click here.

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