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Home Equity Conversion Mortgages

U.S. Department of Housing and Urban Development > Home Equity Conversion Mortgages


Program Description:

The Home Equity Conversion Mortgage (HECM) program enables older homeowners to withdraw some of the equity in their home in the form of monthly payments for life or a fixed term, or in a lump sum, or through a line of credit. In addition, the HECM mortgage can be used to purchase a primary home when the borrower is 62 years of age or older and is able to use cash in hand to pay the difference between the reverse mortgage and the sales price plus closing costs for the property.


General Program Requirements:

In order to qualify for this benefit program, you must be a current or prospective homeowner over the age of 61 years who is refinancing an existing mortgage.





Loan Terms:

Not Applicable


Application Process:

For more information, see the Program Contact Information below.


Program Contact Information:

For more information about this program, please visit:


Managing Agency:

U.S. Department of Housing and Urban Development

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