Tuesday, January 18, 2011

FHA Reverse Mortgage Equity Conversion Loan

FHA Reverse Mortgage

The FHA reverse mortgage loan is known as HECM – Home Equity Conversion Mortgage.

A FHA reverse mortgage is of course guaranteed by the FHA.


There are some general requirements that a borrower must meet in order to qualify for a FHA reverse mortgage loan. Below I have listed just the very basic FHA reverse mortgage qualifications for borrowers interested in utilizing this financial tool.

Qualifications for FHA Reverse Mortgage


  • At least 62  years or older
  • One - Four Unit dwellings
  • Own the home, or the existing traditional forward mortgage is close to be paid off more specifically it can be paid with the proceeds obtained from the reverse mortgage loan.

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