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HECM Standard

The HECM Standard is the traditional Federal Housing Administration (FHA) insured reverse mortgage loan.

As the original HECM, this loan was designed for those who need the most money available, allowing you to borrow the maximum amount with higher upfront costs.

With a HECM Standard, the borrower is required to pay a Mortgage Insurance Premium (MIP) of 2% of the maximum claim amount, which is the lesser of the appraised value, national mortgage limit, or sales price, an origination fee, title insurance and other closing costs (see Fees).