Program Description

The Home Equity Conversion Mortgage (HECM) is Federal Housing Administration's (FHA) reverse mortgage program which enables you to withdraw some of the equity in your home. You choose how you want to withdraw your funds, whether in a fixed monthly amount or a line of credit or a combination of both. You can also use a HECM to purchase a primary residence if you 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 you are purchasing.

General Program Requirements

You must:

  • Be 62 years of age or older
  • Own the property outright or have a small mortgage balance
  • Occupy the property as your 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
  • U.S. Department of Housing and Urban Development (HUD) approved condominium
  • Manufactured home that meets FHA requirements

Your Next Steps

The following information will lead you to the next steps to apply for this program.

Application Process

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

Program Contact Information

To contact a HUD Housing Counseling agency, go to: https://entp.hud.gov/idapp/html/hecm_agency_look.cfm
To contact the Federal Housing Administration (FHA), please use one of the following methods:

Visit us at:
http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing...

Write us at:
U.S. Department of Housing and Urban Development
Federal Housing Administration
451 Seventh St., SW
Washington, D.C. 20410

Call us at:
1-800-CALL-FHA (1-800-225-5342) or via Federal Information Relay Service (w/TTY): 1-800-877-8339

Email us at:
answers@hud.gov