Home Equity Conversion Mortgage · Age 62+
Reverse Mortgages in Georgia (HECM)
An FHA-insured HECM lets Georgia homeowners 62 and older turn equity into cash, monthly income or a growing line of credit, with no required monthly principal and interest payment. Georgia adds no state rules of its own — what changes your numbers here is your county.
Overview
Federal rules govern the loan. Your county governs the bill.
Georgia has no separate reverse mortgage statute or state disclosure. The term appears in the Georgia Residential Mortgage Act only as a licensing definition, and the Georgia Fair Lending Act specifically excludes reverse mortgages from its high-cost loan rules, so your loan is governed by the federal HECM program and HUD counseling. That makes the local variables the ones worth studying. Georgia’s statewide senior relief is modest — a $2,000 standard homestead exemption, a $4,000 county exemption at 65 and a school exemption at 62, both with tight income tests — but county school tax exemptions are where the real money is, and they differ enormously from one metro Atlanta county to the next. Two other Georgia specifics matter at the closing table and afterward: the intangible recording tax on the note, and non-judicial foreclosure, which means a tax or insurance default here moves faster than it would in a court-supervised state.
Licensed in Georgia · NMLS 1352284 · Georgia mortgage lending statewide · Reverse mortgage overview
Who it is for
Is a reverse mortgage right for you in Georgia?
- Georgia homeowners 62 and older who plan to stay in the home
- Metro Atlanta retirees whose county offers a senior school tax exemption
- Homeowners whose county opted out of the HB 581 floating exemption and are seeing assessments climb
- Retirees who want a line of credit on standby rather than a lump sum
- Buyers right-sizing within Georgia using HECM for Purchase
- Not a fit if you may move soon or cannot cover taxes, insurance and upkeep
Highlights
What is different about a Georgia reverse mortgage
Federal rules, no state overlay
Georgia has no separate reverse mortgage statute or disclosure, and the Georgia Fair Lending Act excludes reverse mortgages. The HECM program rules and HUD counseling govern.
County exemptions decide your bill
Cobb exempts homeowners 62+ from school taxes with no income limit. Gwinnett exempts school taxes at 65 within an income limit. Fulton added a 65+ school exemption for 2026. These dwarf the state exemptions.
The floating exemption is in flux
HB 581 capped taxable value growth at inflation beginning in 2025, but many counties, cities and school systems opted out, and a 2025 follow-up law lets them revisit it. Check your jurisdiction, not the headline.
Intangible recording tax
Georgia charges $1.50 per $500 of the note amount, capped at $25,000, and reverse mortgages are not exempt. Ask the closing attorney how your county computes it on a HECM.
Foreclosure moves faster
Georgia is a non-judicial, power-of-sale state with notice required at least 30 days before a sale, so an unpaid tax or insurance bill escalates more quickly than in court states.
The lending limit rarely binds
The 2026 FHA limit is $1,249,125 while the average Georgia home is in the mid-$300,000s, so your home’s value and your age, not the cap, set your proceeds.
Questions
Georgia reverse mortgage questions
Does Georgia have its own reverse mortgage rules?
No. Georgia has no separate reverse mortgage statute or state-specific disclosure, and the Georgia Fair Lending Act excludes reverse mortgages from its provisions. Your loan follows federal HECM rules and requires HUD-approved counseling.
How do Georgia senior exemptions affect a reverse mortgage?
They lower the property tax you are required to keep current, which is one of the obligations that keeps a HECM in good standing. County school exemptions matter most: Cobb at 62 with no income limit, Gwinnett at 65 within an income limit, and a new Fulton exemption at 65 for 2026.
Is there a tax to record a reverse mortgage in Georgia?
Yes. Georgia’s intangible recording tax is $1.50 per $500 of the note amount, capped at $25,000, and there is no exemption for reverse mortgages. Ask your closing attorney what the county will charge on your loan amount.
What happens if I fall behind on taxes or insurance in Georgia?
The loan can be called due, and Georgia allows non-judicial foreclosure with notice at least 30 days before the sale. That is a faster track than in states that require a court order, which is why a tax-and-insurance set-aside is worth discussing up front.
Ready to explore a reverse mortgage in Georgia?
Every scenario is different, and in Georgia your county’s exemptions can swing the tax bill by thousands. Let’s talk through yours. Call (303) 557-3846 or start online.
This material is not from HUD or FHA and has not been approved by HUD or any government agency. This page is educational and is not financial, tax, or legal advice, and it is not a commitment to lend. State and local figures cited are current as of September 2026 and change — confirm exemption amounts, income limits and program rules with your county and the applicable state agency. A reverse mortgage is a loan secured by your home. You must continue to pay property taxes, homeowners insurance and any HOA dues, maintain the property, and occupy it as your principal residence; failure to do so may cause the loan to become due and payable. Borrower must be 62 or older. Independent HUD-approved counseling is required. All loans subject to credit approval, property valuation and program guidelines. David Silva, NMLS 1352284. Equal Housing Lender.