Program
Reverse mortgage (a loan against your home)
A loan against your home's value that's repaid when you leave it. It's a loan, not a grant, so try other help first.
What it can pay for
- ramps
- grab bars
- roll-in shower
- stair lift
- bathroom changes
- roof
- heating and air
- a home care aide
- living expenses
- buying an adapted home
- Official name
- HUD Home Equity Conversion Mortgage (HECM) Reverse Mortgage
- Where
- Nationwide
- Status
- Program running
- Most it pays
- $1,249,125 none
- About the amount
- National maximum claim amount for FHA case numbers assigned 1/1-12/31/2026 (Alaska, Hawaii, Guam and USVI included — one nationwide cap, no county variance, unlike forward FHA loans). Actual loan amount is the lesser of appraised value, purchase price, or this cap, times a HUD age/interest-rate factor. First-year draw is limited to the greater of 60% of the principal limit or mandatory obligations plus 10%.
- Housing rules
- Must be the owner-occupied principal residence. Manufactured homes built on or after 6/15/1976 to federal standards qualify. Any existing mortgage must be paid off at or before closing, often with HECM proceeds.
- How long it takes
- No HUD-published timeline. Hard clocks: counseling certificate valid 180 days; lender can't charge fees or process the application until it has the certificate; 3-business-day right to cancel after closing (not on HECM for Purchase).
- How to apply
- Get independent HUD counseling first (required for the borrower, any non-borrowing spouse, and any non-borrowing owner). Get the Certificate of HECM Counseling (valid 180 days), then apply with an FHA-approved lender — compare at least two.
- Does not pay for
- Not for rentals, RVs, or vacation homes — owner-occupied principal residence only. While the loan is active, the borrower can't participate in a property-tax deferral program (24 CFR 206.27(b)(3)).
- Official source
- hud.gov
- Last checked
- September 29, 2026