You keep your home
You retain title and continue living in your home as your primary residence. The home stays in your estate for your heirs.
Reverse Mortgage · HECM
Understand HECM structure, obligations, costs, and tradeoffs.
A Home Equity Conversion Mortgage is an FHA-insured reverse mortgage for qualifying older homeowners. It may provide access to home equity without required monthly principal-and-interest payments while program requirements are satisfied.
Imperium is not HUD or a government agency. The qualifying HECM product is FHA-insured and requires HUD-approved counseling.
HECM Educational Review
Items a licensed originator must review
Answer all four questions to continue to a licensed review request.
How It Works
A retirement tool, structured around your peace of mind.
A HECM converts part of eligible home equity into loan proceeds. Interest, FHA mortgage-insurance premiums, and applicable fees accrue, so the loan balance generally increases and remaining equity may decrease over time.
No required monthly principal-and-interest payments
This applies while program requirements are satisfied. Property taxes, homeowners insurance, association charges, maintenance, and other property obligations remain the borrower's responsibility.
Government-insured (FHA)
The Home Equity Conversion Mortgage (HECM) is FHA-insured. HUD-approved independent counseling is required before the loan may proceed. Imperium is not HUD or a government agency.
Important HECM Limitations
The loan balance and homeowner obligations continue.
- Interest, FHA mortgage-insurance premiums, and applicable fees accrue. The loan balance generally increases over time and remaining equity may decrease.
- The borrower must pay property taxes, homeowners insurance, applicable association charges, maintenance costs, and other required property expenses. Failure to meet these obligations can result in default and foreclosure.
- The home must remain the principal residence. The loan may become due when the last borrower dies, sells, permanently moves, or otherwise fails program requirements.
- HECM borrower and eligible non-borrowing-spouse treatment is specific and requires review. All borrowers generally must satisfy HUD age requirements.
- Financial assessment, property eligibility, equity, existing liens, appraisal, and current HUD requirements affect whether and how a HECM may proceed.
- Heirs must address the outstanding HECM balance; they do not automatically receive the home free of the loan.
Reverse Mortgage FAQ
Honest answers about ownership, your family, and costs.
Do I still own my home with a reverse mortgage?
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Yes. You retain title to your home. A reverse mortgage is a loan against your equity — you remain the owner and can live in the home as long as it stays your primary residence and you keep up with property taxes, homeowner's insurance, and maintenance.
How does a reverse mortgage affect my heirs?
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Heirs do not automatically receive the home free of the loan balance. When the loan becomes due, they must address the outstanding HECM balance under the program's requirements and timelines. Remaining equity, if any after repayment and costs, may pass through the estate.
Why is counseling required for a reverse mortgage?
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HUD requires independent counseling to protect you. A HUD-approved counselor confirms you understand how the loan works, the costs involved, and the alternatives, so you can make a fully informed decision before moving forward.
Are there hidden costs with a reverse mortgage?
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Interest, FHA mortgage-insurance premiums, and applicable origination, appraisal, closing, servicing, and other fees may apply and generally accrue to the loan balance. The specific costs must be reviewed in official disclosures before closing.
Imperium Mortgage LLC is a licensed mortgage broker (NMLS #1900572). A licensed reverse-mortgage originator must review the specific borrower, spouse, property, costs, and program requirements.
Retirement Cash Flow
See whether a reverse mortgage fits your plan.
Request an educational review with a licensed reverse-mortgage originator who can explain the program, HUD counseling, costs, obligations, maturity events, spouse treatment, and heir options.
HECM responsibilities: Borrowers are responsible for property taxes, homeowners insurance, applicable association charges, and maintenance. Failure to meet these requirements can result in default and foreclosure. Interest, FHA mortgage-insurance premiums, and applicable fees accrue; the balance generally increases and remaining equity may decrease.