Home Equity Conversion Mortgage (HECM)
GPTKB entity
AI-created image
Statements (18)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
reverse mortgage
|
| gptkbp:abbreviation |
gptkb:Home_Equity_Conversion_Mortgage
|
| gptkbp:administeredBy |
gptkb:Federal_Housing_Administration
|
| gptkbp:alternativeTo |
traditional home equity loan
|
| gptkbp:availableOn |
gptkb:United_States
|
| https://www.w3.org/2000/01/rdf-schema#label |
Home Equity Conversion Mortgage (HECM)
|
| gptkbp:insuredBy |
gptkb:U.S._government
|
| gptkbp:introducedIn |
1989
|
| gptkbp:maximumLoanAmount |
set by FHA limits
|
| gptkbp:purpose |
convert home equity into cash
|
| gptkbp:regulates |
gptkb:U.S._Department_of_Housing_and_Urban_Development
|
| gptkbp:repaymentDue |
when borrower dies, sells home, or moves out
|
| gptkbp:requires |
counseling session
primary residence |
| gptkbp:targetAudience |
homeowners age 62 and older
|
| gptkbp:targetUser |
non-recourse loan
|
| gptkbp:bfsParent |
gptkb:Federal_Housing_Administration
|
| gptkbp:bfsLayer |
4
|