Home Equity Conversion Mortgage · Age 62+
Reverse Mortgages in Texas (HECM)
An FHA-insured HECM lets Texas homeowners 62 and older turn equity into cash, monthly income or a growing line of credit, with no required monthly principal and interest payment. Texas writes its own reverse mortgage protections directly into the state constitution.
Overview
The only state that puts reverse mortgage rules in its constitution.
Texas protects the homestead more aggressively than any other state, and a reverse mortgage is one of the few debts the Texas Constitution allows against it. Article XVI, Section 50(k) sets the terms: the lien is valid only with the written consent of each owner and each owner’s spouse, including a spouse who is not on title; the borrower or the borrower’s spouse must be 62 or older; counseling must be completed no earlier than 180 days and no later than 5 days before closing, attested in writing; and the loan cannot close until the twelfth day after the lender delivers a specific constitutionally worded notice about what can make the loan due. If you later default on taxes, insurance or occupancy, the lender must give notice and at least 30 days to cure, and can foreclose only by court order — ordinary non-judicial foreclosure is not available except when the last borrower dies or the home is sold. Texas voters approved reverse mortgage for purchase in November 2013, so HECM for Purchase is available here too.
Licensed in Texas · NMLS 1352284 · Texas mortgage lending statewide · Reverse mortgage overview
Who it is for
Is a reverse mortgage right for you in Texas?
- Texas homeowners 62 and older who intend to stay in the homestead
- Couples where one spouse is 62 or older and the other is not yet
- Retirees whose school tax ceiling and over-65 exemptions already cap their tax bill
- Homeowners who want a line of credit on standby rather than a lump sum
- Buyers right-sizing within Texas using HECM for Purchase and carrying their tax ceiling percentage
- Not a fit if you may move soon or cannot cover taxes, insurance and upkeep
Highlights
What is different about a Texas reverse mortgage
A 12-day notice
Your loan cannot close until the twelfth day after the lender delivers the constitutionally prescribed notice explaining what can make a reverse mortgage due and payable.
Counseling on a clock
Texas requires written attestation that counseling was completed no earlier than 180 days and no later than 5 days before closing.
Every spouse consents
The lien is valid only with the written consent of each owner and each owner’s spouse, even a spouse who is not on title. The borrower or spouse must be 62 or older.
Foreclosure needs a court
Except when the last borrower dies or the home is sold, a Texas reverse mortgage can be foreclosed only by court order, after notice and at least 30 days to cure.
Purchase allowed since 2013
Texas voters approved reverse mortgage for purchase in November 2013, which is why HECM for Purchase is on the table here.
Over-65 tax tools
Homeowners 65+ get a $200,000 total school homestead exemption, a school tax ceiling that transfers by percentage to a new Texas homestead, and the option to pay property taxes in four installments.
Questions
Texas reverse mortgage questions
What is the 12-day rule on a Texas reverse mortgage?
The Texas Constitution requires the lender to give you a specific written notice about a reverse mortgage before closing, and the loan cannot close until the twelfth day after that notice is delivered. It is a cooling-off window, not a formality.
My spouse is under 62. Can we still do a reverse mortgage in Texas?
Possibly. Texas requires that the borrower or the borrower’s spouse be 62 or older, and that each owner and each owner’s spouse consent in writing. Federal non-borrowing spouse rules then decide what happens to the younger spouse later, so this is the part to review carefully before signing.
Can I defer my Texas property taxes if I have a reverse mortgage?
Texas lets homeowners 65+ defer collection of homestead taxes by affidavit, but a deferral only stops the taxing unit from collecting. It does not satisfy the HECM requirement that taxes be paid, and the Comptroller’s own form warns that other liens can still act. Get written confirmation from your servicer before filing.
Does foreclosure work differently on a Texas reverse mortgage?
Yes. Apart from the last borrower’s death or a sale of the home, the lender must go to court for an order before foreclosing, and must first give notice and at least 30 days to cure the default.
Ready to explore a reverse mortgage in Texas?
Every scenario is different, and in Texas the constitutional notice and counseling windows set your calendar. 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.