Reverse Mortgage Academy

Yes, you can schedule an appointment for a one-hour personalized counseling session that provides answers to your unique situation with a certified housing counselor. This session complements the course and dives deeper into your specific circumstances.

No, this course is optional, but it's a valuable resource to help you feel confident about your decisions. The only required step is HUD-mandated HECM counseling, which must happen after you've met with a lender and before closing on a reverse mortgage.

Yes, the Reverse Mortgage Academy is completely FREE with no hidden costs. There is no charge for the online course, and one-on-one counseling is also free. In cases where individuals are unable to afford our services, managers have the liberty to reduce or waive associated fees.

The course is self-paced and designed to fit your schedule. Most participants complete it in about 25-30 minutes. You can pause, save your progress, and return at any time that works for you.

The course covers reverse mortgage basics, how they work, eligibility requirements, costs and fees, repayment obligations, alternatives to consider, and guidance on finding HUD-approved counseling. Each module builds your understanding step by step.

No. This free educational course is designed to help you learn about reverse mortgages, understand how they work, and determine whether they may be a good fit for your financial goals. If you decide to move forward with a reverse mortgage, you will need to complete the required HUD-approved HECM counseling session after meeting with a lender. After your counseling session, you'll receive the certificate needed to move forward with the reverse mortgage process. To meet HUD requirements, the certificate is valid for 180 days from the date of your counseling session.

With a traditional mortgage, you borrow a lump sum and pay it down every month until the balance reaches zero. With a reverse mortgage loan, the lender pays you, in a lump sum, monthly payments, or a line of credit, and you make no required monthly payments. Interest and mortgage insurance get added to the loan balance instead, so it grows over time rather than shrinking. Because HECM loans are non-recourse and federally insured, you or your heirs will never owe more than the home is worth when the loan comes due, even if the balance has grown past that.

A reverse mortgage loan removes the required monthly mortgage payment, but it doesn't remove your other obligations as a homeowner. You still have to pay property taxes, maintain homeowners insurance, and keep up with basic home maintenance for as long as you have the loan. Falling behind on any of these can trigger a default, even though you don't owe a monthly payment on the loan itself. If your home's value is high enough that the federal HECM limit of $1,249,125 (2026) doesn't cover what you need, a proprietary or jumbo reverse mortgage loan from a private lender may offer more, though those loans aren't FHA-insured and non-recourse protection depends on the individual lender's terms.