Reverse Mortgage - Lendmire
Loan Program

Home equity, without monthly payments.

Reverse mortgages let homeowners 62 and older access home equity without making monthly mortgage payments. The loan is repaid when the home is sold, the homeowner moves, or the property passes to heirs. Available as FHA-insured HECM programs and proprietary options for higher-value homes.

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The Fundamentals

The mortgage that works in reverse.

A reverse mortgage is a loan available to homeowners 62 and older that allows them to convert a portion of home equity into cash — without monthly mortgage payments. Instead of paying the lender, the loan balance grows over time and is repaid when the home is eventually sold, the homeowner moves out, or the property passes to heirs. The most common type is the FHA-insured HECM (Home Equity Conversion Mortgage).

Homeowners keep title to their property throughout the loan. They remain responsible for property taxes, homeowners insurance, and maintenance — missing those obligations can trigger default. HUD requires independent counseling with an approved agency before a reverse mortgage can be originated, and that’s by design: this is a significant financial decision that deserves careful consideration, not a fast sale.

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Program Options

Three paths through reverse mortgage financing.

Traditional FHA-insured HECM, HECM for Purchase, or proprietary programs for higher-value homes.

Most Popular

HECM

The FHA-insured Home Equity Conversion Mortgage — the most common reverse mortgage. Federally regulated, with lump sum, line of credit, or monthly disbursement options.

Buy With HECM

HECM for Purchase

Use a reverse mortgage to purchase a new primary residence. Combine proceeds with a down payment — no monthly mortgage payments going forward.

Higher-Value Homes

Proprietary Reverse

Non-HECM reverse mortgage programs for homes valued above HUD’s HECM limits. Higher loan amounts without FHA insurance backing.

Reverse mortgages require homeowners to continue paying property taxes, homeowners insurance, and maintain the home. Failure to meet these obligations can result in foreclosure. HUD-approved counseling is required before application. Reverse mortgages are not available in every state at Lendmire — contact us to confirm availability. All loans subject to credit, property, and age eligibility.
Why Lendmire

Education first, sales never.

Reverse mortgages are significant, often permanent financial decisions. They’re also a product with a history of being aggressively marketed — and that history has given the whole category a reputation it doesn’t always deserve. A HECM is a useful tool for the right homeowner in the right situation. It’s also genuinely the wrong tool for many homeowners, depending on their heirs, their other assets, and their long-term plans.

Our job is to help you figure out which category you’re in — not to sell you a loan. HUD requires independent counseling before any reverse mortgage originates, and we want you to take that counseling seriously. We walk through the structure, the costs, the impact on your estate, and the alternatives — HELOC, traditional refinance, or no mortgage action at all — honestly. If a reverse mortgage is right, we’ll get it done cleanly. If it isn’t, we’ll tell you that too.

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Program Highlights

Equity access, designed for retirement.

Age 62+
Available to homeowners 62 or older on a primary residence with substantial equity. Both spouses’ ages are considered when both are on title.
No Monthly Payments
The loan balance grows over time rather than requiring monthly payments. Repayment happens when the home is sold, vacated, or transferred.
Keep Ownership
Homeowners retain title to the property throughout the loan. You remain responsible for property taxes, insurance, and maintenance.
Flexible Disbursement
Receive funds as a lump sum, a growing line of credit, monthly disbursements, or a combination — structured to match your needs.
Also Consider

Programs worth comparing.

Reverse mortgages aren’t the right fit for every homeowner. These alternatives may better serve different equity-access goals.

Still Want Payments

HELOC

If monthly payments are manageable and flexibility matters more than payment-free structure, a Home Equity Line of Credit may be the right call.

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Refinance Existing

Refinance Loan

Traditional cash-out refinance replaces your existing mortgage and provides cash at closing — a conventional alternative when monthly payments are feasible.

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Traditional Financing

Conventional Loan

If monthly payments fit your retirement plan, conventional financing typically offers lower total costs and preserves more equity for heirs.

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Learning Center

Know before you borrow.

Reverse mortgage guides, retirement equity strategies, and HECM education from our licensed loan officers.

Take the Next Step

Tools to move from reading to action.

Tool One

Talk to an expert

A licensed Lendmire loan officer walks you through HECM structure, costs, alternatives, and the HUD counseling process — honestly.

Connect Tool Two

See if you qualify

Start eligibility review in under 30 seconds. Age, equity, occupancy, and state availability all confirmed before any commitment.

Start Tool Three

Browse programs

See every loan program Lendmire offers — from reverse mortgages to HELOCs to traditional refinance — and find the right fit.

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Get Started

Learn if a reverse mortgage fits your situation.

Review eligibility and alternatives in about 30 seconds. Education-focused, no obligation.

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