Jessica LuepnitzMortgage Loan Officer

Reverse Mortgage · HECM

Reverse Mortgages, Explained Clearly

A reverse mortgage can allow eligible homeowners to access a portion of their home equity without a required monthly mortgage payment. It is still a loan, and homeowners continue to have important responsibilities.

Your obligations continue.

Borrowers remain responsible for paying property taxes and homeowners insurance, maintaining the home, living in it as their principal residence, and meeting other applicable property charges and loan obligations. If these obligations are not met, the loan can become due and payable.

Explore the Basics
Schedule a Consultation

Choose a convenient time on my calendar.

Call Jessica

Call me directly at (947) 217-2494.

This advertisement is for a reverse mortgage loan. HUD-approved counseling is required prior to application.

The Basics

Four Things to Know

  1. 1

    You still own your home

    With a HECM, the title stays with you. The reverse mortgage is a loan secured by your home, much like a traditional mortgage uses the home as security.

  2. 2

    There is generally no required monthly mortgage payment

    HECM borrowers generally do not make required monthly principal-and-interest payments while the loan remains in good standing. That is not the same as having no housing costs.

  3. 3

    You still have homeowner responsibilities

    You must keep paying property taxes and homeowners insurance, maintain the home, live in it as your principal residence, and meet other applicable property charges and loan requirements.

  4. 4

    The loan is eventually repaid

    The loan generally becomes due when the last borrower sells the home, permanently leaves it as a principal residence, or dies, subject to applicable HECM protections and rules.

Could I Qualify?

HECM eligibility generally includes:

  • Homeowner age 62 or older
  • The home is your principal residence
  • Enough home equity to pay off any existing mortgage liens at closing
  • A financial assessment, including your ability to keep up with property taxes, insurance and upkeep
  • Required counseling with an independent HUD-approved HECM counselor
  • Other FHA/HECM property and program requirements

Turning 62 does not automatically qualify anyone. Actual eligibility and available proceeds depend on your individual situation.

HUD HECM information → (opens in a new tab)

Already Have a Mortgage?

An existing mortgage does not automatically prevent you from considering a HECM. Existing liens generally must be paid off at closing.

Reverse mortgage proceeds may be used toward that payoff, depending on the transaction and the amount available. In some cases, available proceeds may not be enough to cover the full balance.

How Proceeds May Be Received

Depending on the loan and your circumstances, available proceeds may be structured as:

  • A line of credit
  • Monthly advances
  • A lump sum
  • A combination, where permitted

Not every option is available with every rate or loan structure, and no specific amount is promised.

Educational Estimate

Reverse Mortgage Estimate Calculator

See an educational estimate of how much home equity may be available through a HECM based on factors such as your age, home value and the calculator's rate assumptions.

This is an educational estimate, not a loan offer, approval or guaranteed amount. Your actual eligibility and available proceeds depend on your individual circumstances and current HECM requirements.

What a Reverse Mortgage Does — and Doesn't Do

It mayAllow eligible homeowners to access a portion of their home equity.

It does notTransfer ownership of your home to the lender.

It mayRemove the requirement for a monthly principal-and-interest mortgage payment while HECM requirements continue to be met.

It does notEliminate property taxes, homeowners insurance, maintenance or other property obligations.

It mayProvide financial flexibility, depending on your goals and circumstances.

It does notProvide funds at no cost. Interest and applicable fees are added to the loan balance over time.

The loan balance generally increases over time, and the equity remaining in your home can decrease. A reverse mortgage is not automatically right or wrong; it depends on your goals, your plans for the home and your family's situation.

Common Questions

Common Reverse Mortgage Questions

Trusted Reverse Mortgage Resources

Government links are provided for education only and do not imply endorsement by HUD, FHA, CFPB or any government agency.

This advertisement is for a reverse mortgage loan. HUD-approved counseling is required prior to application.

Still Have Questions?

Reverse mortgages can involve your home, existing mortgage, future plans and family considerations. A conversation can help determine which questions are most important for your situation.

Talking with me does not replace the required counseling session with an independent HUD-approved counselor.

Schedule a Consultation

Choose a convenient time on my calendar.

Call Jessica

Call me directly at (947) 217-2494.