How Much Could Your Home Pay You?

No. A reverse mortgage requires no monthly principal or interest payments while you live in the home as your primary residence. The loan balance grows over time as interest accrues. The loan becomes due when you sell, move out permanently, or pass away.

No. You retain full ownership and title throughout the life of the loan, as long as you continue to pay property taxes, homeowner's insurance, and maintain the property in reasonable condition.

Generally, no. Reverse mortgage proceeds are considered loan advances rather than income, so they are typically not subject to federal income tax. Consult a CPA or tax professional for your specific situation.

When the loan becomes due, your heirs can sell the home to repay the balance, refinance into a traditional mortgage to keep the home, or walk away with no personal liability beyond the home's value. FHA mortgage insurance guarantees they will never owe more than the home is worth at the time of sale.

The FHA national lending limit for Home Equity Conversion Mortgages is $1,249,125 for 2026, up from $1,209,750 in 2025. Homes valued above this amount are still eligible, but the loan calculation is capped at the FHA limit rather than the full appraised value.

Three factors drive your loan amount: your age (or the age of the youngest borrower or eligible non-borrowing spouse), your home's value capped at the FHA lending limit, and the current expected interest rate. HUD publishes official Principal Limit Factor (PLF) tables that convert these inputs into a percentage of your home's value you can access.

A fixed-rate HECM typically requires you to take all proceeds as a lump sum at closing. An adjustable-rate HECM allows more flexibility: monthly payments, a growing line of credit, or a combination. Adjustable rates currently offer a higher initial PLF in most scenarios, meaning more available proceeds at the same expected rate.

If you are 62 or older but your spouse is under 62, they can be designated a non-borrowing spouse. They may remain in the home after the borrowing spouse passes away or moves to a care facility, under HUD protections. However, because HUD uses the younger spouse's age for the PLF calculation, your available proceeds will be reduced compared to a scenario where both spouses are 62 or older.

Homes valued above the FHA lending limit can qualify through proprietary HomeSafe programs offering loan amounts up to $4,000,000. HomeSafe Standard and HomeSafe Select are available in most states for borrowers age 55 and older. These programs do not require FHA mortgage insurance, which can mean lower costs for higher-value properties. Contact us to discuss your options.

HomeSafe Second is a proprietary second-lien reverse mortgage that lets you access up to $1,000,000 in home equity while keeping your existing first mortgage completely intact. It is a fixed-rate, lump-sum product with a minimum loan amount of $50,000. Unlike a HELOC or home equity loan, HomeSafe Second does not add a new monthly mortgage payment. Available to borrowers age 55+ in select states including CA, FL, AZ, CO, and others.

HomeSafe Standard is a fixed-rate, lump-sum first-lien reverse mortgage -- you receive 100% of proceeds at closing. HomeSafe Select is an adjustable-rate line of credit with a growth feature, meaning your available credit may increase over time even if your home value stays flat. Both programs offer up to $4,000,000 and are available to borrowers age 55+ in most states. HomeSafe Standard Intro and Select Intro variants offer higher LTVs for first-time reverse mortgage borrowers.

Yes, in many states. While the FHA HECM program requires age 62+, proprietary HomeSafe products are available starting at age 55 in states including AZ, CA, CO, CT, DC, FL, GA, HI, ID, IL, LA, MI, MN, MO, MT, NV, NJ, OH, OR, PA, RI, SC, UT, and VA. Some states have a minimum age of 60 (MA, NY, WA) and TX requires age 62. Availability and terms vary -- call us to check your specific state and situation.