Product · HECM
HECM Loan — the FHA-insured reverse mortgage
The federally insured option for homeowners 62 and older. Retain your home, access your equity, and never make a monthly mortgage payment for as long as you live in the home.
What a HECM is, plainly
A Home Equity Conversion Mortgage (HECM) is an FHA-insured reverse mortgage available to homeowners 62 and older. You retain ownership and continue living in your home as long as it remains your primary residence and you meet basic obligations (property taxes, homeowner's insurance, basic maintenance).
The loan becomes due when the home is sold, the last borrower permanently relocates, the last borrower passes away, or the loan terms aren't met. Your home is the only asset securing the loan — your other assets and your heirs' assets are never at risk.
Built-in protections
FHA insurance protects you and your heirs
- You can never owe more than the fair market value of your home (non-recourse loan).
- If the loan balance exceeds the home value at sale, FHA insurance covers the difference — never your other assets.
- FHA guarantees lender payments to you even if the lender defaults.
- A lender cannot take title to your home if the loan balance exceeds the home's value.
- Your heirs may retain the home by paying 95% of the appraised value at the time the loan is due.
Eligibility
Do you qualify for a HECM?
- Age 62 or older (at least one borrower; spouse can be younger under certain protections).
- Home is your primary residence and you own it (or have substantial equity).
- Credit history meets HUD's financial assessment standards (we look at willingness and capacity to pay obligations, not a hard FICO cutoff).
- Property meets FHA standards (single-family, eligible condo, certain manufactured homes, 2–4 units).
- You complete the independent HUD-approved counseling session.
2026 lending limit
The HECM maximum claim amount for 2026 is $1,249,125. That's the value of your home that FHA will use in calculating your loan — even if your home is worth more. (For homes above that value, jumbo reverse mortgages typically unlock more equity.)
See what you'd qualify for
No SSN. No credit pull. No obligation. Just a personalized estimate based on your age, home value, and current mortgage balance.