What is a Home Equity Conversion Mortgage (HECM)?

Home Equity Conversion Mortgage (HECM) Definition

The Home Equity Conversion Mortgage program is an FHA/HUD program designed to help homeowners take advantage of the equity they have built within their homes and use it for other purposes. There are several different HECM options, including reverse mortgages, reverse to purchase mortgages, and reverse mortgage refinance loans. Note that HECM reverse mortgages are the only ones in the country that are insured by the federal government.


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