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Reverse Mortgage

Last updated 2026-08-01

CFPB

Updated 2026-08-01

A reverse mortgage allows homeowners age 62 or older to borrow against their home equity. It is called a “reverse” mortgage because, instead of making payments to the lender, you receive money from the lender. The money you receive, and the interest charged on the loan, increases the balance of your loan each month. Most reverse mortgages today are called HECMs, short for Home Equity Conversion Mortgage.

CFPB Mortgage Terms

CFPB · pp. 25–28

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