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Reverse Mortgage Programs

Explore different reverse mortgage options designed to help seniors access their home equity. Each program has unique features to match your financial goals.

FHA HECM

Home Equity Conversion Mortgage (HECM) is the most common reverse mortgage program, backed by the Federal Housing Administration. It's available to homeowners 62 and older with sufficient home equity.

Age Requirement: 62 years or older
Property Types: Single-family homes, FHA-approved condos, townhomes
Loan Limits: Up to $1,089,300 (2024 limit, varies by county)
Required Counseling: Mandatory HUD-approved counseling

For Higher-Value Homes

Proprietary Programs

Also known as "jumbo reverse mortgages," these private programs are designed for homeowners with high-value properties that exceed FHA loan limits. Available starting at age 55.

Age Requirement: 55 years or older
No FHA Limits: Access more equity from high-value homes
Lower MIP: Often no monthly mortgage insurance premiums
Flexible Terms: Customized options for unique situations

Feature	FHA HECM	Proprietary
Minimum Age	62 years	55 years
Loan Limits	FHA limits ($1,089,300+)	No limits
Mortgage Insurance	Required (MIP)	Usually none
Property Types	FHA-approved only	More flexible
Counseling Required	Yes (HUD-approved)	Varies by lender

Ready to explore which reverse mortgage program is right for you?

Get Your Free Quote

How a Reverse Mortgage Works

A reverse mortgage is a unique financial tool that allows senior homeowners to tap into their home equity without selling their home or making monthly mortgage payments. Here's everything you need to know.

The Process

Apply & Get Counseling

Complete an application with a reverse mortgage lender and attend required HUD-approved counseling (for HECM loans).

Home Appraisal

Your home will be appraised to determine its current market value and maximum loan amount you qualify for.

Choose Your Payout

Select how you want to receive your funds: lump sum, monthly payments, line of credit, or a combination.

Receive Your Funds

Once approved, you receive your funds and continue living in your home mortgage payment-free!

Key Benefits of Reverse Mortgages

No Monthly Payments

Unlike traditional mortgages, you don't make monthly mortgage payments. The loan is repaid when you sell or leave the home.

Tax-Free Proceeds

Reverse mortgage funds are generally not considered taxable income, giving you more take-home money.

Retain Homeownership

You keep ownership of your home. It remains yours to live in, sell, or pass on to your heirs.

Non-Recourse Loan

You're never obligated to pay more than your home's value. Heirs can keep or sell the home.

Consumer Protections

FHA HECM loans come with strong consumer protections, including counseling requirements and lender regulations.

Flexible Fund Access

Choose how you receive funds based on your needs: lump sum, monthly payments, or a line of credit.

Important Considerations

While reverse mortgages offer many benefits, it's important to understand that:

Interest accrues on the loan balance over time
Homeownership responsibilities remain (property taxes, insurance, maintenance)
The loan becomes due when the last borrower sells or permanently moves out
Heirs have options but may need to repay the loan or sell the home

Reverse Mortgage Calculator

Get a quick estimate of how much you may be able to access with a reverse mortgage. Enter your details below to see your potential qualifying amount.

Enter Your Information

Your Age

years

Minimum age for most reverse mortgages is 62

Estimated Property Value

Current Mortgage Balance (if any)

Expected Interest Rate

Your Estimated Results

Estimated Maximum Claim Amount

Principal Limit

Available Cash

Breakdown

Property Value $0

HECM Limit (2024) $1,089,300

Age Factor 0%

Initial Principal Limit $0

Less: Loan Payoff -$0

Net Cash Available $0

This is an estimate only. Actual amounts may vary based on your specific situation, property type, and current market conditions. Contact a reverse mortgage counselor for accurate information.

Designed for Homeowners 62+

Unlock Your Home's Equity with a Reverse Mortgage

A reverse mortgage allows senior homeowners to convert part of their home equity into tax-free cash without having to sell their home or make monthly mortgage payments. Whether you need funds for healthcare, home improvements, or simply to enjoy your retirement more comfortably, a reverse mortgage could be the solution you've been looking for.

Stay in Your Home

Continue living in your home with no monthly mortgage payments required

Tax-Free Funds

Receive proceeds that are generally not considered taxable income

Federally Insured

HECM loans are backed by the Federal Housing Administration (FHA)

Flexible Payouts

Choose how you receive your funds – lump sum, monthly, or line of credit

How Reverse Mortgages Work

Getting a reverse mortgage is simpler than you think. Follow these steps to unlock your home's equity.

Get Pre-Qualified

Fill out our simple form to get matched with reverse mortgage lenders based on your needs.

Attend Counseling

Complete mandatory HUD-approved counseling (required for FHA HECM loans) to understand your options.

Choose Your Plan

Select your preferred payout option: lump sum, monthly payments, line of credit, or combination.

Receive Your Funds

Close on your loan and start receiving funds while staying in your home mortgage-free.

See What Our Reverse Mortgage Clients Are Saying About Their Experience!

Margaret & Robert

Senior couple walking arm in arm, smiling at sunset

"The reverse mortgage process was explained clearly. I was able to access the equity in my home and eliminate my monthly mortgage payments. Best financial decision I've made!"

David & Patricia

Senior couple at home looking at laptop together

"As a self-employed homeowner, getting approved was a breeze with the no tax return loan option. The lender matched me with the perfect jumbo reverse mortgage for my situation."

James & Linda

"I chose the interest-only reverse mortgage option and couldn't be happier. Lower payments and I still own my home outright. RateMatchUp.com made finding the right lender simple."

Get Started Today

Ready to Unlock Your Home's Equity?

Fill out the form below and one of our reverse mortgage specialists will contact you within 24 hours to discuss your options.

Full Name *

Phone Number *

Email Address *

Property Address *

Desired Loan Amount

Estimated Credit Score

Date of Birth *

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