HECM Loans in Boise – Secure, FHA-Insured Reverse Mortgage Options

A Home Equity Conversion Mortgage (HECM) is the most common type of reverse mortgage, backed by the Federal Housing Administration (FHA). It allows Boise homeowners age 62 and older to convert part of their home’s equity into tax-free funds, without giving up ownership or adding new monthly payments.

At Reverse Mortgage Boise, we help local homeowners understand how HECM loans work, the benefits and obligations, and what to expect through every step of the process. Request your personalized HECM estimate!

What Is a HECM Loan?

A HECM is a non-recourse loan that lets you access equity built up in your primary residence. It’s repaid when you sell, move, or no longer live in the home. The loan is regulated by HUD and offers protections not found in private reverse mortgages.

Borrowers remain on title, keep responsibility for taxes and insurance, and continue living in their homes.

Key Features of HECM Loans

Federally insured through FHA for borrower protection
No required monthly principal or interest payments while living in the home
Multiple payout options: lump sum, monthly installments, line of credit, or hybrid
No income or credit score minimums (assessment is based on age, home value, and equity)
Non-recourse guarantee: you or your heirs never owe more than the home’s value when sold

See which HECM option fits your home value

Basic Eligibility Requirements

To qualify for a HECM in Idaho:

You must be 62 years or older
The home must be your primary residence
You must have sufficient equity (typically 50% or more)
You must remain current on property taxes, homeowners insurance, and maintenance
Completion of HUD-approved reverse mortgage counseling is required before application

Advantages of the HECM Loan Program

Stay in your Boise home longer while unlocking needed funds
Supplement retirement income or pay off existing mortgage debt
Establish a growing line of credit that increases over time
Flexibility: choose how to receive proceeds to fit your lifestyle
Peace of mind: FHA insurance adds borrower protections

Common Uses for HECM Proceeds

Eliminating current mortgage payments
Funding healthcare costs or in-home care
Renovations or accessibility improvements
Paying property taxes and insurance
Creating a standby emergency reserve

Learn how local Boise residents use HECMs

The Counseling Requirement

All borrowers must complete a session with a HUD-approved counselor before applying. This ensures you understand the product, costs, and obligations. Counselors provide a certificate required by lenders before closing.

The Application & Approval Process

Education & counseling
Application review and financial assessment
FHA-required appraisal
Underwriting and loan approval
Loan closing and fund disbursement
Average timeline: 30–45 days.

About

Serving Boise, The Treasure Valley and all of Idaho. We help our clients understand the benefits of Reverse Mortgage Loans and why it may be a useful tool in retirement.

Services

HECM

Proprietary Reverse Mortgage

Single-Purpose Revere Mortgage

Rates & Uses

Fund Retirement

Healthcare

Education

Long-Term Care

Contact

+ 1 208 409-3382

Boise Metro, Idaho & The Treasure Valley