Reverse Mortgage in Texas. Your Home. Your Equity. Your Terms.
Convert the equity in your home into tax-free funds with no required monthly mortgage payment. Stay in your home for as long as you choose. Available to Texas homeowners age 62 and older.
A reverse mortgage is a loan that allows homeowners 62 and older to convert a portion of their home equity into cash without selling their home or making monthly mortgage payments. Instead of making payments to a lender, the lender makes payments to you, or provides a lump sum or line of credit. The loan is repaid when you sell the home, move out permanently, or pass away.
The most common type is the Home Equity Conversion Mortgage (HECM), which is insured by the Federal Housing Administration. Kris Syevens at Aravian Financial takes a patient, no-pressure approach to explaining reverse mortgages. This is a significant financial decision that requires a full understanding of costs, obligations, and how it affects your heirs. Kris will walk you through every detail before you ever commit to anything.
Who Qualifies for a Reverse Mortgage?
At least 62 years old (all borrowers on title must meet age requirement)
Own your home outright or have significant equity
Primary residence only, must occupy as your main home
Demonstrate ability to pay property taxes, insurance, and maintenance
Property must meet FHA minimum property standards
Pros and Cons
Advantages
No monthly mortgage payment required
Remain in your home for as long as you choose
Proceeds are tax-free (not considered income)
FHA-insured HECM protects you from owing more than the home is worth
Flexible disbursement: lump sum, monthly payments, or line of credit
Non-recourse loan, heirs are not personally liable for any shortfall
Things to Consider
Loan balance grows over time as interest accrues
Reduces equity available to heirs
Must continue paying property taxes, insurance, and HOA fees
Upfront costs include origination fee, closing costs, and MIP
Loan becomes due if you move out, sell, or no longer occupy as primary
Can affect means-tested government benefits in some cases
Frequently Asked Questions
The amount you can borrow depends on your age, home value, current interest rates, and the HECM loan limit ($1,249,125 in 2026, up from $1,209,750 in 2025 — the 10th consecutive year of increases). Generally, the older you are and the more equity you have, the more you can access. Kris can provide a free personalized estimate.
No. You retain full ownership of your home with a reverse mortgage, just as you do with any other mortgage. The lender has a lien on the property. You are responsible for maintaining the home and paying property taxes and insurance.
When you pass away, your heirs have options. They can pay off the reverse mortgage balance and keep the home, sell the home and keep any remaining equity, or allow the lender to sell the property. The FHA insurance on a HECM ensures your heirs will never owe more than the home is worth.
A reverse mortgage can become due and payable if you fail to pay property taxes, homeowners insurance, or HOA fees, or if the home falls into significant disrepair. As long as you meet these obligations and continue living in the home as your primary residence, you cannot be forced out.
Before applying for an FHA-insured HECM, all borrowers are required to complete a counseling session with a HUD-approved housing counselor. This is an independent session designed to ensure you fully understand the product, costs, and alternatives. Kris can connect you with an approved counselor.
A reverse mortgage works well for homeowners who have significant equity, plan to stay in their home long-term, and need to supplement retirement income or cover major expenses. It is not ideal if you plan to move soon or want to preserve equity for heirs. Kris will help you evaluate the full picture honestly.
