Can a veteran get a HECM?

Yes. Veteran status neither qualifies nor disqualifies anyone. A HECM has its own requirements: the youngest borrower must be at least 62, the home must be the principal residence, the property must meet FHA standards, independent HUD-approved counseling is required, and the borrower must pass FHA's financial assessment.

Do veterans get a discount on a HECM?

No. There is no veteran discount, waiver, or preference on FHA mortgage insurance premiums or HECM fees. Be cautious of any advertisement implying otherwise.

What can a veteran do with an existing VA loan and a HECM?

A HECM must be in first lien position, so an existing mortgage — including a VA loan — is typically paid off at closing using HECM proceeds. Whether enough proceeds are available depends on age, property value up to the FHA lending limit, and rates. Paying off a VA loan does not, by itself, restore or consume entitlement in ways you should guess at; ask VA about your entitlement before making a decision.

Is a VA cash-out refinance a better option than a HECM?

It is a genuinely different trade. A VA cash-out refinance normally has lower up-front insurance-type costs for eligible veterans but requires a monthly principal-and-interest payment and full income and credit qualification. A HECM has no required monthly principal-and-interest payment but accrues interest and mortgage insurance into a growing balance. Which fits depends on cash flow, how long you will stay, and what you want to leave to heirs.

Does the VA funding fee apply to a HECM?

No. The VA funding fee applies to VA-guaranteed loans. A HECM instead carries FHA mortgage insurance premiums.

Does a HECM affect VA disability compensation?

Loan proceeds are borrowed funds, not income, and VA disability compensation is not needs-tested in the way programs like SSI are. Needs-based benefits such as VA Pension, Medicaid or SSI can be affected by retained funds. Confirm your specific situation with VA or a benefits specialist before drawing funds.

Who should a veteran talk to first?

For VA benefit questions, VA directly or an accredited Veterans Service Organization representative. For reverse mortgage questions, a HUD-approved housing counselor, whose session is independent of any lender and is required before a HECM application.

Can a surviving military spouse get a HECM?

Yes, on the same terms as any other applicant — the eligibility rules are age 62 or older, principal residence, an eligible property, HUD counseling, and passing the FHA financial assessment. VA survivor status does not change HECM eligibility requirements.

Does a HECM affect VA Aid and Attendance or VA Pension benefits?

VA Pension and Aid and Attendance are needs-based, so retained loan proceeds sitting in a bank account could potentially affect countable resources. Confirm your specific situation with VA or an accredited benefits counselor before drawing funds.

Is a HECM available on a home bought with a VA loan years ago?

Yes. Once the borrower turns 62 and meets the other HECM requirements, how the home was originally financed does not matter; any existing lien, including a VA loan, is simply paid off at HECM closing.

Does using a HECM affect a veteran's ability to get a future VA loan?

VA loan entitlement relates to VA-guaranteed loans specifically, not to a HECM. Paying off a VA loan with HECM proceeds may restore entitlement depending on VA's rules; ask VA directly to confirm the effect on your specific entitlement.

Veterans

Is there a VA reverse mortgage? What veterans should know

Published: January 1, 2026

There is no VA reverse mortgage — VA does not offer one. Veterans can still use the FHA-insured HECM on the same terms as anyone else, and this page sets out clearly how the two federal programs differ so nobody is misled by advertising that blurs them.

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Veteran homeowner reviewing home loan options at the kitchen table

Quick answer

The U.S. Department of Veterans Affairs does not offer a reverse mortgage. The federally insured reverse mortgage is the HECM, insured by FHA, part of HUD. Veterans can apply for a HECM under the same rules as any other applicant — age 62+, principal residence, FHA property standards, independent HUD-approved counseling and FHA financial assessment. There is no veteran discount or preference.

No "VA reverse mortgage" exists — treat that phrase in an ad as a red flag.
An existing VA loan is normally paid off at closing because a HECM needs first lien position.
The VA funding fee does not apply to a HECM; FHA mortgage insurance does.
A VA cash-out refinance requires a monthly payment and full qualification; a HECM does not.
Ask VA about entitlement before paying off a VA loan with any product.

What this means for you

Simply Approved Mortgages is an independent mortgage broker and is not affiliated with, endorsed by, or acting on behalf of VA, HUD, FHA or any government agency.

Included with your estimate

Get your Reverse Mortgage Estimate Summary.

Complete the short estimate form and we send back a full HECM summary: your estimated principal limit, complimentary home value estimate, payoff of any existing mortgage, and estimated proceeds available to you.

Complimentary home value estimate
Estimated principal limit for your age
Existing mortgage payoff included
Lump sum, line of credit, or monthly options

Get my estimateTakes about 3 minutes · Summary emailed and shown on screen

Illustration only, generated from the information you enter. Not a loan estimate, pre-qualification, commitment to lend, or approval. Subject to HUD counseling, appraisal, credit and income review, and final lender approval. You remain responsible for property taxes, insurance, and home maintenance.

Estimate summary

Home value estimate: $412,000
Youngest borrower age: 72
Estimated principal limit: $219,400
Existing mortgage payoff: $68,000
Estimated proceeds available: $151,400

Simply Approved Mortgages • NMLS #2620881 • Equal Housing Opportunity

Definition

What is a the difference between VA loan benefits and a HECM?

VA home loan benefits are a guaranty program: VA guarantees part of a loan made by a private lender, which lets eligible veterans buy or refinance with favourable terms, often with no down payment. Those loans are repaid with regular monthly payments.

A HECM is an FHA-insured reverse mortgage for homeowners aged 62 and over. Instead of the borrower making monthly principal-and-interest payments, interest and mortgage insurance accrue onto a balance that is repaid when the last borrower permanently leaves the home. The borrower must still pay property taxes, homeowners insurance, any HOA dues, and keep the home maintained.

Two different agencies, two different structures. Neither is a government hand-out, and neither is administered by us — we are an independent broker that arranges loans with third-party lenders.

Sources: U.S. Department of Veterans Affairs — Home Loans; HUD — HECM Program

VA-guaranteed loan vs FHA-insured HECM

Feature	VA-guaranteed loan	HECM (FHA-insured)
Agency	Department of Veterans Affairs	FHA, part of HUD
Who is eligible	Eligible veterans, service members and certain surviving spouses	Homeowners 62+, any background
Monthly payment	Required principal and interest	No required principal and interest; taxes, insurance, HOA and upkeep still due
Government charge	VA funding fee (with exemptions)	FHA up-front and annual mortgage insurance premiums
Counseling	Not required	Independent HUD-approved counseling required
Balance over time	Falls as you pay	Grows as interest and premiums accrue

Simply Approved Mortgages perspective

Advertising that veterans should question

Marketing that pairs military imagery with phrases like "VA reverse mortgage", "veterans' equity program", or "government benefit you have earned" is describing something that does not exist. A HECM is a loan, not a benefit, and no lender or broker is part of VA, HUD or FHA. If an offer implies otherwise, that alone is reason to walk away and to report it.

Educational perspective from Simply Approved Mortgages LLC, a mortgage broker, NMLS #2620881.

Included with your estimate

Your numbers plus the 2026 Reverse Mortgage Guide.

Request your estimate and we include the 21-page plain-English guide: who qualifies at 62+, what a HECM costs, payout options, ongoing obligations, and the questions to ask before you sign.

21-page guide, no jargon
HUD/FHA program rules explained
Costs and fees broken down
Questions to ask any loan officer

Send me the guideFree · No obligation

Estimate summary

Home value estimate: $412,000
Youngest borrower age: 72
Estimated principal limit: $219,400
Existing mortgage payoff: $68,000
Estimated proceeds available: $151,400

Simply Approved Mortgages • NMLS #2620881 • Equal Housing Opportunity

FAQ

Veterans and reverse mortgages — FAQ

Is there a VA reverse mortgage?: No. The U.S. Department of Veterans Affairs does not offer a reverse mortgage product. Any advertisement suggesting a “VA reverse mortgage” is inaccurate. The federally insured reverse mortgage is the Home Equity Conversion Mortgage (HECM), which is insured by the Federal Housing Administration, part of HUD — a different agency and a different program.
Can a veteran get a HECM?: Yes. Veteran status neither qualifies nor disqualifies anyone. A HECM has its own requirements: the youngest borrower must be at least 62, the home must be the principal residence, the property must meet FHA standards, independent HUD-approved counseling is required, and the borrower must pass FHA's financial assessment.
Do veterans get a discount on a HECM?: No. There is no veteran discount, waiver, or preference on FHA mortgage insurance premiums or HECM fees. Be cautious of any advertisement implying otherwise.
What can a veteran do with an existing VA loan and a HECM?: A HECM must be in first lien position, so an existing mortgage — including a VA loan — is typically paid off at closing using HECM proceeds. Whether enough proceeds are available depends on age, property value up to the FHA lending limit, and rates. Paying off a VA loan does not, by itself, restore or consume entitlement in ways you should guess at; ask VA about your entitlement before making a decision.
Is a VA cash-out refinance a better option than a HECM?: It is a genuinely different trade. A VA cash-out refinance normally has lower up-front insurance-type costs for eligible veterans but requires a monthly principal-and-interest payment and full income and credit qualification. A HECM has no required monthly principal-and-interest payment but accrues interest and mortgage insurance into a growing balance. Which fits depends on cash flow, how long you will stay, and what you want to leave to heirs.
Does the VA funding fee apply to a HECM?: No. The VA funding fee applies to VA-guaranteed loans. A HECM instead carries FHA mortgage insurance premiums.
Does a HECM affect VA disability compensation?: Loan proceeds are borrowed funds, not income, and VA disability compensation is not needs-tested in the way programs like SSI are. Needs-based benefits such as VA Pension, Medicaid or SSI can be affected by retained funds. Confirm your specific situation with VA or a benefits specialist before drawing funds.
Who should a veteran talk to first?: For VA benefit questions, VA directly or an accredited Veterans Service Organization representative. For reverse mortgage questions, a HUD-approved housing counselor, whose session is independent of any lender and is required before a HECM application.
Can a surviving military spouse get a HECM?: Yes, on the same terms as any other applicant — the eligibility rules are age 62 or older, principal residence, an eligible property, HUD counseling, and passing the FHA financial assessment. VA survivor status does not change HECM eligibility requirements.
Does a HECM affect VA Aid and Attendance or VA Pension benefits?: VA Pension and Aid and Attendance are needs-based, so retained loan proceeds sitting in a bank account could potentially affect countable resources. Confirm your specific situation with VA or an accredited benefits counselor before drawing funds.
Is a HECM available on a home bought with a VA loan years ago?: Yes. Once the borrower turns 62 and meets the other HECM requirements, how the home was originally financed does not matter; any existing lien, including a VA loan, is simply paid off at HECM closing.
Does using a HECM affect a veteran's ability to get a future VA loan?: VA loan entitlement relates to VA-guaranteed loans specifically, not to a HECM. Paying off a VA loan with HECM proceeds may restore entitlement depending on VA's rules; ask VA directly to confirm the effect on your specific entitlement.

Related guides

Keep learning about reverse mortgages

References

References & sources

Every statistic, program rule, and regulatory claim on this page is sourced from the primary U.S. government agencies and industry bodies listed below. We never source program facts from competing brokers, blogs, or unverified secondary sources.

Source links are maintained by Simply Approved Mortgages and verified periodically. Federal program rules can change — always confirm current-year specifics with HUD, the CFPB, or a HUD-approved counselor before acting on any information on this page.

Program comparisons

Keep reading: the next steps most people take

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From the blog

Documents required for a reverse mortgage

When you apply for a HECM reverse mortgage, your lender will request documents that verify your identity, property ownership, income, and assets. Gathering these in advance can speed up your estimate and application.

Government-issued photo ID
Current driver’s license, passport, or state-issued ID.
Social Security number verification
Social Security card or award letter showing your SSN.
Current mortgage statement
Most recent statement if refinancing; purchase agreement if buying.
Homeowner’s insurance declarations page
Shows current coverage, premium, and mortgagee clause.
Property tax statement or receipt
Latest county tax bill showing taxes are current or payment history.
Bank statements
Last 1-2 months to verify closing funds and residual reserves.
Investment or retirement accounts
Recent statements for IRA, 401(k), brokerage, or other liquid assets.
HOA or condo information
Homeowners association statement or condo questionnaire if applicable.
Trust or title vesting documents
Required when the home is held in a living trust or entity.
Flood insurance declaration
Current policy if the property is in a flood zone.
HUD-approved counseling certificate
Required before loan application. Obtained from a HUD-approved reverse mortgage counselor.

Learn more about HUD-required counseling

Credit & pre-approval

Why we pull credit for your reverse mortgage pre-approval

HUD requires a Financial Assessment for every HECM reverse mortgage, including a review of your credit history and record of paying property taxes and homeowners insurance. As part of our standard broker/lender pre-approval process, we typically order a tri-merge credit report through a HUD-approved credit vendor to verify identity, review obligations, and confirm that you can continue paying property taxes, homeowners insurance, and maintenance after closing. Whether a tri-merge is required, and any fees, are set by the wholesale lender and credit vendor — not by HUD as a stand-alone rule.

Pay for your credit report — SmartPay

Simply Approved Mortgages uses SmartPay to securely collect the credit report fee for your reverse mortgage pre-approval. Payment goes directly to the credit vendor — not to us — and unlocks a tri-merge credit report (Equifax, Experian, TransUnion) that your loan officer uses to complete the broker/lender pre-approval file for HUD's Financial Assessment.

Secure, PCI-compliant checkout hosted by SmartPay
Standard step in our broker/lender pre-approval process (not a HUD stand-alone requirement)
Optional — you can decline; your loan officer will explain any impact on your options

Pay for credit report securely

You'll be redirected to cic.cra.xedalink.net (SmartPay).

Check your credit first — $1 trial at MyITINCredit

Before you apply, it's smart to know exactly where your credit stands. MyITINCredit offers a $1 trial for 15 days that includes all three credit reports and scores (Equifax, Experian, TransUnion), plus ongoing credit monitoring so you can catch errors, dispute inaccuracies, and watch for identity theft.

See all 3 bureau reports & scores before your lender does
Ongoing monitoring alerts you to new accounts or score changes
Fix errors early — cleaner credit can widen your reverse mortgage options

Start $1 / 15-day trial

You'll be redirected to myitincredit.com. Third-party service — terms apply.

Credit report fees are paid directly to the credit vendor. Simply Approved Mortgages (NMLS #2620881) does not receive compensation from these credit services. MyITINCredit is an independent third-party service; pricing, terms, and features are set by that provider.

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