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estimated home value

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The Home Equity Conversion Mortgage (HECM) is FHA's reverse mortgage program. It enables you to withdraw some of the equity in your home. The HECM is a safe plan that can give older Americans greater financial security. Many seniors use it to supplement Social Security, meet unexpected medical expenses, make home improvements and more.

current mortgage balance

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With a reverse mortgage, there are no monthly principal and interest payments.

property zip code

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When the home is sold or no longer used as a primary residence, the cash, interest, and other HECM finance charges must be repaid. All proceeds beyond the amount owed belong to your spouse or estate. This means any remaining equity can be transferred to heirs. No debt is passed along to the estate or heirs.

your age

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The FHA requires that you are a homeowner 62 years of age or older to be eligible for a FHA HECM.

your name: first and last

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The amount you can borrow depends on your age, home value and the interest rate.

property address

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To be eligible for the FHA HECM, your home must be a one-to-four unit property with one unit occupied by the borrower. HUD-approved condominiums and manufactured homes that meet FHA requirements are also eligible.

phone number

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With a HECM loan, you can receive your money in one of 3 ways: as a line of credit, in monthly installments, or a lump sum. You can also get a combination of monthly installments and a line of credit.

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