Reverse Basics


HECM Purchase

HECM for Purchase is an FHA insured, government sponsored Reverse Mortgage program that allows borrowers who are 62 and over to purchase a new primary residence with a reverse mortgage loan all in one single transaction. It’s a great option for older borrowers wishing to move to a home that is better suited to their needs and/or closer to their loved ones.

HECM Refinance

HECM for Refinance is an FHA insured, government sponsored Reverse Mortgage program that allows borrowers who are 62 and over to convert an existing HECM loan into another HECM in order to take advantage of lower interest rates or borrow more cash with rising home values.

Proprietary Reverse Mortgage

Proprietary Reverse Mortgages are not federally insured, however, they can help 62+ borrowers with property values that exceed $679,650.


Reverse Mortgage costs are comparable to a traditional mortgage. Your interest rate will be based on a fixed or adjustable rate of interest.


Although there are no mortgage payments to make, the homeowner is required to pay any property taxes, property insurance, HOA dues and maintain the home.

Receiving Your Funds

HECM Reverse Mortgages allows the borrower to receive their funds in the form of a lump sum, line of credit, monthly installments or a combination of any of these three.


  • 62 Years Old and Over

  • Minimal income or credit qualifying restrictions (only that residual income requirement is met)

  • The home must be a borrower’s primary residence

  • The property can be a single family home or a two-to-four unit property

  • Town homes, manufactured homes and some condominium units, are eligible

  • The home must meet HUD minimum property standards as determined by an FHA appraisal. In some cases, home repairs can be made during the process of the loan or after the closing of the loan

Contact Us

Academy Mortgage Reverse


6650 SW Redwood Ln Suite 350

Portland, OR 97224

Tel: 503-510-1910

Academy Mortgage Corporation is an Equal Housing Lender | Corp NMLS# 3113


Please Note: the information on this website is based on an FHA HECM (Federal Housing Administration Home Equity Conversion Mortgage) mortgage product, which is a type of mortgage loan.  There are fees associated with this loan as well as compounding interest.  The loan is not a government benefit and must be repaid.  There is no guarantee of financial security, and the consumer is responsible to pay the property taxes, homeowners insurance, and property maintenance fees independent of the loan, which can be a significant cost.  The consumer faces a risk of foreclosure if they do not meet these obligations.  For more information about the FHA HECM reverse mortgage product visit This ad is not from HUD or FHA and was not approved by HUD or any government agency.