Reverse Mortgages

A secure way for homeowners age 62+ to convert home equity into tax-free cash.

Program Overview

A Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, allows older homeowners to access the equity they've built up in their homes without having to make monthly mortgage payments.

Instead of you paying the lender, the lender pays you. You can receive the funds as a lump sum, a monthly payment, or a line of credit. The loan is repaid only when you sell the home, move out permanently, or pass away.

Key Benefits

No Monthly Payments

Eliminate your existing mortgage payment and improve your monthly cash flow.

Stay In Your Home

Retain title and ownership of your home as long as you live there.

Tax-Free Proceeds

The money you receive is loan proceeds, not income, so it is typically tax-free.

Non-Recourse Loan

You or your heirs will never owe more than the home's value when it is sold.

Standard Requirements

  • Age: At least one borrower must be 62 years of age or older.
  • Equity: You must have significant equity in your home (usually at least 50%).
  • Occupancy: The home must be your primary residence.
  • Counseling: You must complete a session with a HUD-approved HECM counselor.

Documents Needed to Apply

  • Certificate of HECM Counseling completion
  • Proof of age (Driver's license, birth certificate)
  • Social Security card
  • Current mortgage statement (if applicable)
  • Homeowners insurance declaration page
  • Bank statements

Secure Your Retirement

Learn how your home equity can support your lifestyle.

Get a Free Reverse Mortgage Guide