The Forever Home Blueprint
Watch exactly how a Home Equity Conversion Mortgage shields your retirement assets and protects your family's legacy.
How a HECM Works, in 3 Simple Steps
Independent HUD Counseling
An independent, HUD-approved counselor walks you through the loan by phone — we provide a list of public agencies for you to choose from.
Application & Appraisal
We submit your FHA case, order an independent home appraisal, and confirm your maximum available equity.
Close & Receive Funds
After a 3-day right-of-rescission period, your funds are disbursed as a lump sum, line of credit, or monthly payments.
Find Your State's HECM Guide
Every state has its own counseling rules, timelines, and licensing requirements. Tap your state below for the complete local breakdown.
Frequently Asked Questions
What exactly is a Home Equity Conversion Mortgage (HECM)?
A HECM is a reverse mortgage insured by the Federal Housing Administration (FHA). It lets homeowners age 62 and older in your state or territory convert part of their home equity into tax-free cash, a line of credit, or monthly payments — without selling the home or taking on a new monthly mortgage payment.
Do I still own my home with a reverse mortgage?
Yes. You keep the title and remain the owner of your home. The lender places a lien on the property, just like with a traditional mortgage, but you retain full ownership as long as you meet the loan obligations (living in the home, paying property taxes, insurance, and upkeep).
Are there monthly mortgage payments with a HECM?
No. A HECM eliminates required monthly principal-and-interest payments for as long as at least one borrower lives in the home as their primary residence. You are still responsible for property taxes, homeowner's insurance, and reasonable home maintenance.
How much money can I receive?
Your available proceeds depend on the age of the youngest borrower, current interest rates, and your home's appraised value (up to the 2026 FHA lending limit of $1,249,125). Generally, older borrowers and higher-value homes unlock a larger percentage of equity.
What happens to the loan when I pass away?
The HECM is a non-recourse loan. When the last surviving borrower passes away or permanently leaves the home, heirs can sell the property to repay the loan, refinance it to keep the home, or hand over the keys — and neither you nor your heirs will ever owe more than the home is worth at the time of sale.
Is a reverse mortgage a scam?
No. A HECM is a federally regulated, FHA-insured loan program that has existed since 1988. Every borrower is required to complete independent, HUD-approved counseling before applying, specifically to protect seniors from misunderstanding the terms.
What are the real risks of a HECM?
The main risks are failing to pay property taxes, homeowner's insurance, or HOA dues (which can trigger default), and reducing the equity left for heirs. That is why the underwriting process includes a Financial Assessment and, when needed, a Life Expectancy Set-Aside (LESA) to protect against those exact risks.
Who qualifies for a HECM?
You generally qualify if you (or the youngest co-borrower) are 62 or older, own the home outright or have significant equity, live in it as your primary residence, and can demonstrate the ability to keep up with taxes, insurance, and maintenance.
Not 62 Yet?
A HECM requires homeowners to be 62 or older. If you don't meet that age requirement yet, a HELOC lets you access your home's equity right now, with no age restriction. See how a HELOC works →