HECM Brokers

HECM Brokers

The most common type of a reverse mortgage is a HECM, or a home equity conversion mortgage. There are currently two types of HECMs, the HECM Standard and HECM Saver loan. The HECM Saver reverse mortgage is a bit more restrictive in how much you may borrow but you pay less in fees than the standard HECM Standard reverse mortgage.

HECM Reverse Mortgage Qualification

  • 62 or older
  • FHA approved property (most single-family, 2-4 units and some condos)
  • Obtain a certificate for attending an educational reverse mortgage counseling session
  • Enough equity in the property

Reverse Mortgage Calculator