Get the facts about Reverse Mortgages

The Low-Cost Home Equity Conversion Mortgage (HECM) is a great way to take advantage of the traditional benefits of a reverse mortgage, while saving you thousands of dollars in closing costs. Now, you can supplement your monthly income, establish a line of credit for future use, make home improvements, or meet your larger financial goals—all with low up-front closing costs.

For example, you could use it to:

  • Refinance an existing mortgage or consolidate debt, to reduce your monthly bills
  • Gain more financial flexibility and control
  • Pay for large purchases, like a new automobile
  • Fund major home renovation projects
  • Establish a standby line of credit you can tap into as needed
  • Buy a home


  • Must be age 62 or older.
  • Maintain and live in the home as your primary residence.
  • Continue to pay for property related charges such as property taxes, homeowner’s insurance, etc.
  • Participate in a consumer information session given by a HUD-approved HECM counselor. 
  • Subject to credit and underwriting approval.

Watch our short videos to learn more about a home equity conversion mortgage (HECM)

Watch: Learn How Home Equity Conversion Mortgage Works

Watch: Learn About The Differences Between Traditional HELOC and Reverse Mortgage

Watch: Learn About The Benefits of Reverse Mortgage

If you’re 62 or older, talk to our home loan experts to determine if a Home Equity Conversion Mortgage (HECM) is right for you. Complete the form below and a mortgage specialist will contact you within 48 hours. We'll give you all the information you need so you can confidently - and easily - make your own decision, the one that's right for you.

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All borrowers, non-borrowing spouses, guardians, conservators, and power of attorneys are required to be counseled by a third party, HUD-approved counselor. This can be done over the phone or face-to-face, in compliance with state regulations. Massachusetts and Tennessee residents are required to attend a face-to-face meeting. The signed and dated counseling certificate is required before loan processing can begin.

Borrowers who elect a fixed rate loan will receive a single disbursement lump-sum payment.  Other payment options are available only for adjustable rate loans.  Reverse Mortgage loans are available in all states EXCEPT Alaska, Hawaii, Texas, New York, and North Carolina.  Subject to credit and underwriting approval. This material has not been reviewed, approved or issued by FHA, HUD or any government agency.