Reverse Mortgage (HECM) Guide for Pennsylvania Homeowners 62+
Pennsylvania has approximately 1 million homeowner households led by someone 62 or older — one of the largest senior homeowner populations in the Northeast. With a median home value of $232,000, Pennsylvania homeowners can often qualify for a HECM with modest properties. For retirees in Philadelphia, Pittsburgh, or smaller Pennsylvania communities, eliminating a monthly mortgage payment or accessing equity for healthcare can be financially significant.
Source: U.S. Census Bureau ACS 2022 1-Year Estimates (Table B25077); U.S. Census Bureau ACS 2022 1-Year Estimates (Table B25007)
Check My Eligibility — Free & No Obligation2026 FHA HECM National Lending Limit
Pennsylvania's home values are well below the 2026 FHA HECM limit of $1,249,125. Virtually all Pennsylvania homeowners can access HECM proceeds based on their full appraised value. Only premium Philadelphia Main Line or high-value Pittsburgh properties would approach the national cap, and still rarely exceed it.
Source: HUD Mortgagee Letter 2025-21
Pennsylvania Reverse Mortgage Protections
Pennsylvania does not require additional reverse mortgage counseling beyond the federal HUD mandate. The Pennsylvania Department of Banking and Securities regulates mortgage lenders. Pennsylvania seniors benefit from the Property Tax and Rent Rebate program (Act 1 of 2006), which provides rebates of up to $1,000 for qualifying homeowners 65 and older — reducing annual costs for HECM holders who must keep taxes current.
Source: Pennsylvania Act 1 of 2006 (Property Tax Relief); Pennsylvania Department of Banking and Securities
How Much Could You Get? — Pennsylvania
Adjust your age and home value to see a quick estimate. Full calculator →
Estimate based on HUD PLF tables at 6.5% assumed expected rate. Actual amounts depend on formal appraisal and lender terms.
See if you qualify →Source: HUD Principal Limit Factor tables · HUD HECM page
Find a HUD-Approved HECM Counselor in Pennsylvania
Before you can apply for any HECM, federal law requires a one-on-one counseling session with an independent HUD-approved counselor. This is not optional — no FHA-approved lender may accept your application without a valid counseling certificate. The session covers how HECMs work, costs, alternatives, and your rights as a borrower. It typically takes 60–90 minutes and can be done by phone.
Find a HUD Counselor in Pennsylvania →This link opens the HUD HECM Counselor search tool. Filter by state (PA) to find agencies near you.
The 6 Basic HECM Eligibility Requirements
These are the same federal requirements that apply to every HECM in every state, including Pennsylvania.
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Age 62 or older The youngest borrower on the title must be at least 62.
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Your primary home You live in this home as your main residence — not a vacation or rental property.
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Significant home equity You own the home free and clear, or have paid down most of the mortgage — generally 50% or more equity.
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Located in an eligible state FHA HECM is available in all 50 states, Washington D.C., and U.S. territories — including Pennsylvania.
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No existing reverse mortgage Standard HECMs are for first-time reverse mortgage borrowers. Other options exist if you've had one before.
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Plan to stay in your home A HECM is designed for homeowners who intend to remain in their home long-term.
See if a HECM may fit your situation — Pennsylvania homeowners.
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HECM Questions for Pennsylvania Homeowners
Are HECMs available in Pennsylvania?
Yes. HECMs are available statewide in Pennsylvania, including Philadelphia, Pittsburgh, Allentown, and rural communities. FHA-approved lenders licensed in Pennsylvania can originate HECM loans.
Does Pennsylvania require additional reverse mortgage counseling?
No. Pennsylvania relies on the federal HUD counseling requirement. Before any HECM application, borrowers must complete a session with a HUD-approved independent counselor. Pennsylvania has HUD-approved agencies in Philadelphia, Pittsburgh, and surrounding areas.
How do Pennsylvania property taxes interact with a HECM?
HECM borrowers must keep property taxes current. Pennsylvania's Property Tax and Rent Rebate Program provides rebates of up to $1,000 for qualifying homeowners 65 and older. Combined with local Homestead Exemptions, this can significantly reduce annual tax bills for Pennsylvania HECM holders.
What if I have a HELOC on my Pennsylvania home?
An existing HELOC must be paid off and the line closed at HECM closing. The payoff typically comes from HECM proceeds. Pennsylvania lenders will require title to be free of subordinate liens.
Where can I find a HUD-approved HECM counselor in Pennsylvania?
Use the HUD HECM Counselor Search (link above) filtered to Pennsylvania. Agencies are available in Philadelphia and Pittsburgh. Phone counseling is available statewide for seniors in rural areas.
Back to Main Guide
Return to the HomeBridge home page for our full HECM education hub.
HomeBridge Home →Eligibility Checklist
Review all six HECM eligibility requirements in detail.
View Eligibility Checklist →Other State Guides
Explore HECM guides for neighboring states.
Maryland HECM Guide → Ohio HECM Guide →HECM Education Hub
Deepen your understanding before talking to a lender. Our plain-language guides cover how HECMs work, who qualifies, and what protections you have.
Browse all education articles → Browse all HECM FAQs →