Reverse Mortgage (HECM) Guide for Pennsylvania Homeowners 62+
Pennsylvania has approximately 1 million homeowner households led by someone 62 or older — one of the largest senior homeowner populations in the Northeast. With a median home value of $232,000, Pennsylvania homeowners can often qualify for a HECM with modest properties. For retirees in Philadelphia, Pittsburgh, or smaller Pennsylvania communities, eliminating a monthly mortgage payment or accessing equity for healthcare can be financially significant.
Source: U.S. Census Bureau ACS 2022 1-Year Estimates (Table B25077); U.S. Census Bureau ACS 2022 1-Year Estimates (Table B25007)
$1,249,125
Pennsylvania's home values are well below the 2026 FHA HECM limit of $1,249,125. Virtually all Pennsylvania homeowners can access HECM proceeds based on their full appraised value. Only premium Philadelphia Main Line or high-value Pittsburgh properties would approach the national cap, and still rarely exceed it.
Source: HUD Mortgagee Letter 2025-21
Pennsylvania Reverse Mortgage Protections
Pennsylvania does not require additional reverse mortgage counseling beyond the federal HUD mandate. The Pennsylvania Department of Banking and Securities regulates mortgage lenders. Pennsylvania seniors benefit from the Property Tax and Rent Rebate program (Act 1 of 2006), which provides rebates of up to $1,000 for qualifying homeowners 65 and older — reducing annual costs for HECM holders who must keep taxes current.
Source: Pennsylvania Act 1 of 2006 (Property Tax Relief); Pennsylvania Department of Banking and Securities
HUD-Approved Counseling in Pennsylvania
Federal law requires an independent counseling session before any HECM application. Counseling can be done by phone and typically takes 60–90 minutes. Find a HUD-approved counselor in Pennsylvania →
Pennsylvania HECM FAQ
Are HECMs available in Pennsylvania?
Yes. HECMs are available statewide in Pennsylvania, including Philadelphia, Pittsburgh, Allentown, and rural communities. FHA-approved lenders licensed in Pennsylvania can originate HECM loans.
Does Pennsylvania require additional reverse mortgage counseling?
No. Pennsylvania relies on the federal HUD counseling requirement. Before any HECM application, borrowers must complete a session with a HUD-approved independent counselor. Pennsylvania has HUD-approved agencies in Philadelphia, Pittsburgh, and surrounding areas.
How do Pennsylvania property taxes interact with a HECM?
HECM borrowers must keep property taxes current. Pennsylvania's Property Tax and Rent Rebate Program provides rebates of up to $1,000 for qualifying homeowners 65 and older. Combined with local Homestead Exemptions, this can significantly reduce annual tax bills for Pennsylvania HECM holders.
What if I have a HELOC on my Pennsylvania home?
An existing HELOC must be paid off and the line closed at HECM closing. The payoff typically comes from HECM proceeds. Pennsylvania lenders will require title to be free of subordinate liens.
Where can I find a HUD-approved HECM counselor in Pennsylvania?
Use the HUD HECM Counselor Search (link above) filtered to Pennsylvania. Agencies are available in Philadelphia and Pittsburgh. Phone counseling is available statewide for seniors in rural areas.