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The HECM is the most common reverse mortgage, but it isn't the only one. Here are the loan types, who each is for, and the tradeoffs.

The federally insured Home Equity Conversion Mortgage — the most popular and most regulated option.

Use a reverse mortgage to buy a different home outright at retirement.

Private programs designed for higher-value homes that exceed FHA limits.

State and nonprofit programs that fund one specific use, often property taxes or repairs.

The HECM line of credit grows over time — often the most strategic payout choice.

When refinancing an existing HECM makes sense — and when it doesn't.

If you're brand new, start with How It Works. If you already know the basics, jump to Costs & Fees or the calculator.

Get a free, no-obligation estimate. Takes about two minutes — no credit pull required.