🏡 Reverse Mortgage Loans (HECM)
“Unlock your home’s equity without giving up the place you call home.”
📘 Improve Your Life by Accessing Your Equity
For many older homeowners, a reverse mortgage offers a smart, flexible way to turn home equity into tax-free funds — without selling your house or taking on a new monthly payment. Whether you’re planning home upgrades, covering medical expenses, or supplementing your retirement, this program is designed to support aging in place.
🔍 What Is a Reverse Mortgage?
Unlike a traditional mortgage where you make monthly payments, a reverse mortgage pays you. The loan balance grows over time and is typically not repaid until:
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The borrower moves out of the home
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The home is sold
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Or the borrower passes away
You remain the homeowner and keep full responsibility for property taxes, insurance, and maintenance.
💬 Reverse mortgages are often ideal for “house-rich, cash-poor” homeowners who want to stay in their homes while improving financial stability.
🧓 Who Qualifies for a Reverse Mortgage?
✔️ Age 62 or older
✔️ Must live in the home as your primary residence
✔️ Must have sufficient equity in the home
✔️ Must complete a HUD-approved counseling session
📝 No minimum income required, and loan proceeds are typically not taxable. Reverse mortgages do not affect Social Security or Medicare, though they may impact Medicaid eligibility.
📊 Types of Reverse Mortgages
| Type | Description |
|---|---|
| Single-Purpose | Offered by local agencies; funds restricted to uses like taxes or repairs |
| Federally-Insured (HECM) | Backed by HUD; most common and flexible reverse mortgage option |
| Proprietary | Private loans, often for high-value homes above FHA limits |
✅ Key Benefits of a Reverse Mortgage
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❌ No monthly mortgage payments required
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🏠 Retain full ownership and stay in your home
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💰 Access tax-free funds for any purpose
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🛠 Use proceeds for renovations, healthcare, or emergencies
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🧾 May not impact Social Security or Medicare benefits
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🏥 Stay in assisted living or nursing care for up to 12 months before repayment is triggered
🧠 Common Questions
Do I still own my home?
Yes — the title stays in your name. You’re still responsible for taxes, insurance, and maintenance.
When do I have to repay the loan?
The loan is repaid when you move out, sell the home, or pass away. Your heirs can sell the home or refinance to keep it.
Can I run out of money with a reverse mortgage?
HECMs are non-recourse loans, meaning you (or your heirs) will never owe more than the home is worth.
What’s the difference between HECM and proprietary reverse mortgages?
HECMs are federally backed, while proprietary reverse mortgages are private — often used for higher-value homes.
🔗 Related Pages
🚀 Considering a Reverse Mortgage?
We’ll help you understand the pros, cons, and eligibility requirements. A HUD-approved counselor is required before applying — and we’ll help guide you through every step.
🔵 [Apply Now]
📞 [Talk to a Reverse Mortgage Expert]
📋 [Check Your Eligibility]
🔒 Disclosure
This is not a commitment to lend. All loans are subject to credit approval and FHA program guidelines. Borrowers must maintain the home, pay property taxes and insurance, and reside in the home as their primary residence. Reverse mortgage proceeds may affect eligibility for need-based programs like Medicaid. Not all applicants will qualify.