Already have a reverse mortgage?
See if a refinance fits.
HomeBridgeNow is the plain-English resource for homeowners 62+ exploring a HECM-to-HECM refinance or a jumbo proprietary reverse mortgage (up to $4M). Education-first. No sales pressure. We're not a lender.
Trusted education for FHA-approved lending
Every refinance path, explained
We don't promote specific lenders. We explain the loan products you can be refinanced into so you can choose the structure that fits your situation.
HECM
Home Equity Conversion Mortgage
The federally-insured reverse mortgage available to homeowners 62+. Standardized rules, HUD counseling required, FHA non-recourse protection.
- ✓Age 62+ for all borrowers on title
- ✓2026 lending limit: $1,249,125
- ✓Fixed or adjustable; lump sum, line of credit, term or tenure payments
- ✓Federally non-recourse, regulated by HUD/FHA
HECM-to-HECM Refinance
Replace an existing HECM with a new HECM
Useful when your home has appreciated, the FHA lending limit has risen, rates have moved, or you want to add a younger spouse to the loan.
- ✓Must pass HUD's 5-times benefit rule
- ✓Typically requires ~18 months seasoning
- ✓MIP charged only on the *increase* in Maximum Claim Amount
- ✓New HUD counseling required
Jumbo Proprietary Reverse
Private, non-FHA reverse mortgage for high-value homes
Designed for homes that exceed the FHA HECM limit. No FHA Mortgage Insurance Premium, larger loan amounts, and in some programs eligibility starts at age 55.
- ✓Loan amounts often up to $4,000,000
- ✓Some programs available from age 55–60 (varies by state)
- ✓No FHA MIP (upfront or ongoing)
- ✓Most reputable programs are non-recourse by contract
HECM for Purchase
Use a reverse mortgage to buy your next home
Combine a down payment with HECM proceeds to purchase a primary residence without taking on a monthly mortgage payment. Useful when right-sizing.
- ✓One closing, no monthly mortgage payment
- ✓Buyer brings a down payment (often 45–70% depending on age)
- ✓Must occupy the new home within 60 days
- ✓Same FHA borrower protections as a standard HECM
Six reasons a reverse mortgage refinance can make sense
Refinancing isn't always the right move — but for the right borrower it can mean more cash, better terms, or stronger protections. Here's what to weigh.
Your home is worth more
Significant appreciation since your original closing can mean a meaningfully larger Principal Limit, even at the same age and rate environment.
The FHA lending limit rose
The 2026 HECM limit is $1,249,125. If you closed when limits were lower, a refinance may capture equity that was previously capped.
Add a younger spouse to the loan
If a spouse wasn't 62 at original closing, refinancing once they qualify can make them a borrower with full FHA protections — not just a Non-Borrowing Spouse.
Switch to a better rate or structure
Move from fixed to adjustable (or vice versa) to unlock a growing line of credit, change payment plans, or align with current rate conditions.
Move into a jumbo proprietary loan
If your home value far exceeds the FHA limit, a jumbo refinance can unlock equity above the HECM cap — sometimes without ongoing FHA MIP.
Refinance a proprietary loan into a HECM
If FHA protections, federal non-recourse, or HUD-regulated servicing matter more to you now, moving back to a HECM may be the right call.
The HUD refinance rules you need to know
HECM-to-HECM refinances are heavily regulated to protect borrowers. Here are the rules any honest loan officer will walk you through — in plain English.
The HUD 5-times benefit rule
For a HECM-to-HECM refinance, the increase in your Principal Limit must be at least 5× the closing costs of the new loan. Your loan originator must run and document this calculation.
~18-month seasoning
HUD generally expects at least 18 months between your original HECM closing and a HECM-to-HECM refinance. Some lenders apply stricter waits.
MIP credit on the refinance
You only pay the 2% upfront FHA Mortgage Insurance Premium on the *increase* in your Maximum Claim Amount — not on the full new loan. This is a major cost saver versus a brand-new HECM.
Anti-churning disclosure
Federal law requires a disclosure comparing the total cost of the refinance to the projected benefit, plus a written explanation of why the refinance is in your interest.
Counseling — again
Even though you've done it before, HUD requires fresh independent counseling with a HUD-approved housing counseling agency before closing.
Right of rescission
You have a 3-business-day right to cancel after closing a HECM refinance, with no penalty — the same federal protection as your original loan.
HECM vs. jumbo proprietary reverse mortgage
A fast comparison of the two main refinance destinations. Neither is universally better — the right answer depends on your home value, age, and what you value most.
How much could you get from a reverse mortgage?
Adjust your age and home value to see a quick estimate.
Educational estimate — not an offer of credit. Based on HUD PLF tables and 2026 FHA lending limit of $1,249,125.
See if you qualify →What a reverse mortgage refinance actually costs
Knowing the fee categories — and which ones a refinance reduces — is the only way to judge whether a refi is worth doing.
Upfront FHA MIP (HECM only)
2% of the Maximum Claim Amount at closing. On a HECM-to-HECM refinance, you're only charged on the *increase* in MCA — not the full new amount.
Ongoing FHA MIP (HECM only)
0.5% annually on the outstanding loan balance. Accrues to the balance; you don't write a check.
Origination fee
Capped by HUD for HECMs: $2,500 minimum, $6,000 maximum (2% of the first $200K of home value + 1% above that, up to $6,000). Jumbo programs set their own.
Third-party closing costs
Appraisal, title insurance, recording fees, credit report, flood certification, and state-specific items. Usually rolled into the loan.
Servicing fee
Some loans include a monthly servicing fee (capped at $30–$35/mo on HECMs). Many modern loans waive it.
Interest
Accrues on the outstanding balance and is added to the loan, not billed monthly. Fixed-rate locks at closing; adjustable rates reprice on a CMT or SOFR index plus margin.
Figures reflect FHA HECM program rules as of 2026 and are educational only. Final numbers depend on your loan estimate.
Find out if a HECM may be right for you
Answer 4 quick questions — no personal info required at this stage.
What is your age?
A reverse mortgage isn't about leaving your home. It's about staying in it — on your terms.
No required monthly payments
With a HECM, you're not required to make monthly mortgage payments. The loan becomes due when you sell, permanently move out, or pass away.
You keep the title
A HECM uses your home as collateral. You remain the owner. You can sell whenever you choose, and your heirs keep any remaining equity.
Loan proceeds are generally not taxable
Money you receive from a HECM is loan proceeds, not income. It is generally not subject to federal income tax. Consult a tax advisor about your situation.
FHA non-recourse protection
Because the FHA insures HECMs, you and your heirs will never owe more than the home is worth at the time of sale — even if the balance has grown beyond it.
Three steps to understand your options
There's no obligation and no sales pressure — just clear, factual information so you can decide what's right for your situation.
Learn at your own pace
Browse plain-English articles on how HECMs work, what they cost, who qualifies, and what the tradeoffs are. No pop-ups, no countdown timers.
Explore your eligibility
Answer a few simple questions about your age, state, home value, and equity position. We walk you through the qualification criteria.
Connect with a HUD counselor
HECM requires a free counseling session with a HUD-approved counselor — an independent, government-reviewed professional who helps you understand all your options.
The basic requirements, plainly stated.
These are the federal guidelines for a standard FHA HECM. If you're close to qualifying, there may be options worth exploring — proprietary reverse mortgages can serve higher-value properties that exceed the HECM limit.
Age 62 or older
The youngest borrower on title must be 62 or older at loan closing.
Primary residence
You must live in the home as your primary residence. Second homes and investment properties don't qualify.
Significant equity
You must own the home outright or have a low enough balance that the equity qualifies. Generally, 50%+ equity is the minimum threshold.
No prior reverse mortgage
Standard HECMs are for first-time reverse mortgage borrowers. If you've had one before, refinancing options exist.
Eligible property types
Single-family homes, 1–4 unit properties (you occupy one unit), FHA-approved condos, and certain manufactured homes.
2026 lending limit: $1,249,125
For homes valued above this, proprietary reverse mortgages may provide access to equity the standard HECM cannot reach.
Most homeowners over 62 meet these criteria
A standard FHA HECM has six basic requirements. See how many apply to you.
Check my eligibility →- You're 62 years of age or older
- The home is your primary residence
- You have significant equity (typically 50%+)
- You can pay property taxes and insurance
- The home meets FHA property standards
- You complete HUD-approved HECM counseling
Speak the language
The terms you'll hear from any loan officer — defined plainly, with no marketing spin.
- HECM
- Home Equity Conversion Mortgage — the FHA-insured reverse mortgage for homeowners 62+.
- Principal Limit
- The maximum amount you can borrow against your home, based on age, rate, and Maximum Claim Amount.
- Maximum Claim Amount (MCA)
- The lesser of your appraised home value or the FHA HECM lending limit ($1,249,125 in 2026).
- MIP
- Mortgage Insurance Premium — the FHA insurance that makes HECMs non-recourse. 2% upfront + 0.5% annual on the balance.
- LESA
- Life Expectancy Set-Aside — funds carved from your Principal Limit to pay future taxes and insurance when the Financial Assessment requires it.
- Non-Borrowing Spouse
- A spouse not on the loan. With proper documentation, an eligible non-borrowing spouse can stay in the home after the borrower passes.
- Non-recourse
- You or your heirs never owe more than the home is worth at sale. Federal on HECMs; contractual on most jumbo programs.
- 5x Benefit Rule
- HUD's requirement that a HECM-to-HECM refinance increase your Principal Limit by at least 5× the closing costs.
- Seasoning
- The minimum time between your original HECM and a refinance — typically about 18 months.
- HUD Counseling
- An independent education session with a HUD-approved counselor, required before any HECM closes (including refinances).
- Proprietary / Jumbo Reverse
- A private (non-FHA) reverse mortgage for higher home values, often up to $4M, with no FHA MIP.
- Tenure Payment
- A monthly payment from your HECM for as long as you live in the home as a primary residence.
Answer a few questions to see if a HECM might fit your situation.
Takes about 2 minutes. No credit check. No sales call. No obligation of any kind.
The Plain-English HECM Guide
Not ready to fill out a full form? Download our free guide first. 8 pages. No jargon. Written for homeowners 62+.
- ✓What a HECM actually is
- ✓5 common myths debunked
- ✓How proceeds are calculated
- ✓FHA protections explained
- ✓Red flags to avoid
- ✓8 questions to ask any lender
We're here to help you understand — not to close a loan.
A reverse mortgage is one of the most misunderstood products in American finance. HomeBridgeNow was built to change that. We provide clear, factual information — and we'll tell you honestly when a HECM may not be the right fit.
HomeBridgeNow is not a lender, not a broker, and not a financial advisor. If a HECM appears to fit your situation, you'll be connected with a vetted FHA-approved lender. Before any loan proceeds, federal law requires a free session with an independent HUD-approved counselor — that protection exists for you.
Straight answers, no jargon
Can I refinance an existing reverse mortgage?+
Yes. You can refinance one HECM into a new HECM, refinance a HECM into a jumbo proprietary reverse mortgage, or, in some cases, refinance a proprietary loan back into a HECM. The right path depends on your home value, age, current balance, and goals.
What is the HUD 5-times benefit rule?+
For HECM-to-HECM refinances, HUD requires that the increase in your Principal Limit be at least 5 times the closing costs of the new loan. It's designed to prevent unnecessary refinances. Your loan originator must run this test and document it.
Is there a seasoning period before I can refinance a HECM?+
HUD generally expects at least 18 months between your original HECM closing and a HECM-to-HECM refinance. Some lenders apply stricter seasoning. Jumbo proprietary refinances often have their own seasoning rules set by the investor.
Do I get a credit for the FHA mortgage insurance I already paid?+
On a HECM-to-HECM refinance you typically only pay the upfront FHA Mortgage Insurance Premium on the *increase* in the Maximum Claim Amount — not on the full new loan amount. This is one of the biggest reasons HECM-to-HECM refis can pencil out.
How is a jumbo (proprietary) reverse mortgage different from a HECM?+
Jumbo / proprietary reverse mortgages are private loans, not FHA-insured. They can lend on home values well above the FHA HECM limit (often up to $4M), some programs start at age 55 in eligible states, and they have no FHA Mortgage Insurance Premium. In exchange, they lack FHA's federal protections and counseling requirement varies by program.
What is the 2026 FHA HECM lending limit?+
$1,249,125 nationwide for case numbers assigned in calendar year 2026. If your home is worth more than that, only the first $1,249,125 of value is used in HECM calculations — a jumbo proprietary loan may unlock more equity.
Will I lose ownership of my home?+
No. With both HECMs and jumbo proprietary reverse mortgages you keep title. The loan is collateralized by the home, similar to a traditional mortgage.
Are both loan types non-recourse?+
HECMs are federally non-recourse: you or your heirs never owe more than the home is worth at sale. Most reputable jumbo proprietary programs are also non-recourse, but always verify in writing — it's a private-contract feature, not a federal guarantee.
Do I have to attend HUD counseling to refinance?+
For any HECM (including a HECM-to-HECM refinance), yes — independent HUD-approved counseling is required. For jumbo proprietary refinances, counseling is required by some lenders and recommended by us regardless.
What happens to my heirs?+
Heirs can keep the home by paying the loan balance (or 95% of appraised value on a HECM, whichever is less) or sell and keep any remaining equity. They have time after the last borrower leaves the home to decide.
Do I need good credit or income?+
There is no minimum credit score. Lenders perform a Financial Assessment to confirm you can keep up with property taxes, homeowners insurance, HOA dues, and basic maintenance. Past credit hiccups don't automatically disqualify you.
Are reverse mortgage proceeds taxed?+
Loan proceeds are generally not treated as taxable income, and typically don't affect Social Security or Medicare. They may affect needs-based benefits like Medicaid or SSI. Always confirm with a tax advisor or benefits counselor.
Before you go — take the free HECM guide with you
8 pages. Plain English. Written for homeowners 62+. Covers how HECMs work, what you qualify for, and what questions to ask any lender.
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