The free HECM guide for homeowners 62+.
A HUD-referenced, source-cited PDF that explains reverse mortgages the way a good financial planner would — without trying to sell you a loan.
What's in the guide
- How a HECM actually works (in plain English, with real numbers)
- Who qualifies — the 62+ rule, primary-residence rule, equity thresholds
- The 2026 FHA lending limit and how it caps what you can borrow
- Every cost broken down: origination, MIP, servicing, interest
- HUD counseling: what it is, why it's required, and what to expect
- Payout options: line of credit, term, tenure, lump sum, and combinations
- Non-borrowing spouse protections (and the traps to avoid)
- Alternatives to a HECM — when a reverse mortgage isn't the right answer
- Questions to ask any lender before you sign anything
Who this guide is for
This guide is written for homeowners age 62 and older who own their home (or have significant equity) and want to understand reverse mortgages before speaking with a lender. It's also written for adult children helping a parent evaluate options, and for financial advisors who want a clear reference for their clients.
What this guide is not
This is not a loan application. HECMAcademy is not a lender. We don't sell reverse mortgages, and downloading the guide doesn't put you on a hard-sell call list. The guide exists to help you make an informed decision — including the decision that a HECM isn't right for you.