Welfare Info

Home Equity Conversion Mortgages (HECM)

Federal Housing Administration (FHA)

What is Home Equity Conversion Mortgages (HECM)?

The Home Equity Conversion Mortgage (HECM) is the Federal Housing Administration's (FHA) reverse mortgage program which enables borrowers to withdraw some of the equity in their home. The borrower chooses how to withdraw their funds, whether in a fixed monthly amount or a line of credit or a combination of both. The borrower can also use a HECM to purchase a primary residence if they are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property they are purchasing.


Home Equity Conversion Mortgages (HECM) is administered by Federal Housing Administration (FHA).

Program Requirements

The borrower must:

  • Be 62 years of age or older
  • Own the property outright or have a small mortgage balance
  • Occupy the property as their principal residence
  • Not be delinquent on any federal debt
  • Participate in a consumer information session given by an approved HECM counselor

The following eligible property types must meet all FHA property standards and flood requirements:

  • Single family home or 1-4 unit home with one unit occupied by the borrower
  • A condominium unit in a HUD-approved condominium project or a single condominium unit approved by HUD in a non-HUD-approved condominium project
  • Manufactured home that meets FHA requirements

Application Details

What is the application process for Home Equity Conversion Mortgages (HECM)?

To obtain a HUD Home Equity Conversion Mortgage, contact a HUD-approved HECM lender.

Contact Info


How to Apply

Reverse Mortgages for Seniors

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