A Home Equity Conversion Mortgage — HECM — is an FHA-insured reverse mortgage for homeowners 62 and older. It converts part of your home equity into cash — as a lump sum, monthly payments, a line of credit, or a combination — without requiring a monthly mortgage payment. You remain the homeowner: you keep title, live in the home as your primary residence, and stay current on property taxes, insurance, and maintenance. The loan generally becomes due when you sell, move out permanently, or pass away.
Good fit if: you plan to age in place, want to supplement retirement income, prefer to preserve savings or investments, or want a standby line of credit that grows over time. A required, independent HUD counseling session ensures you (and your family, if you wish) understand the program before applying — I’ll walk you through what to expect from it.
Honest context: a reverse mortgage reduces the equity your estate will hold, and it’s not right for everyone — short stays, plans to leave the home to heirs untouched, or certain benefit situations need careful thought. This page is education, not a recommendation. Talk to me, take the counseling, involve your family — then decide with clear eyes.
True Home Lending is operated by Navaneet Dutt, Mortgage Loan Originator, NMLS #2262708, with Loan Factory, NMLS #320841. All loans are subject to credit and property approval. Program availability, rates, terms, and conditions are subject to change without notice and may vary by state, lender, and borrower profile. Not all applicants will qualify. This content is for education only and is not a quote, a loan approval, or a commitment to lend. Equal Housing Opportunity.