Quick Answer
There is no single standard comparison chart because the landscape includes dozens of products across HECM and proprietary categories, but a meaningful comparison requires your specific age, home value, and goals — and a CRMP consultation produces a side-by-side built on your actual numbers.
- No single standard chart exists — programs vary by lender, age, home value, and rates.
- The primary comparison is HECM versus proprietary programs.
- HECM: FHA-insured, $6,000 origination cap, FHA MIP, limit $1,249,125.
- Proprietary: no FHA insurance, no lending limit, no FHA MIP, varied fees.
- Within each category, rate type and payout structure create additional variations.
- A CRMP compares actual programs side-by-side using your specific inputs.
Key Facts
| Topic | Key Fact |
|---|---|
| HECM lending limit | $1,249,125 maximum claim amount |
| HECM origination fee cap | $6,000 |
| HECM upfront MIP | 2% of maximum claim amount |
| Proprietary lending limit | Full home value — no FHA cap |
| Proprietary MIP | None |
| Proprietary origination fee | Varies by lender — not capped |
| HECM payout options | 7 structures including lump sum, tenure, term, LOC, combinations |
| Best comparison tool | Side-by-side Loan Estimates from an independent broker |
Detailed Explanation
There is no single standard comparison chart because the reverse mortgage landscape includes dozens of distinct products across two fundamentally different categories — the federally-insured HECM and the proprietary programs offered by private lenders. Each product has its own rate structure, fee schedule, lending limit, age requirement, and payout options, and those terms change as lenders update their programs.
At the highest level the comparison that matters is between the HECM and proprietary programs. The HECM is insured by the FHA, caps the origination fee at $6,000, requires an upfront FHA mortgage insurance premium of 2% of the maximum claim amount, and is limited to $1,249,125. Proprietary programs access the full home value above that limit, do not charge FHA mortgage insurance — which on a $2 million home exceeds $24,000 — and may have higher or lower origination fees depending on the program.
Within the HECM you choose between fixed and adjustable rates, and among seven payout structures. The fixed rate restricts you to a lump sum at closing. The adjustable rate opens all seven payout options including the line of credit with its growth feature. Within proprietary programs you choose among multiple lenders with their own rate types, credit line options, and specialty structures like the reverse mortgage second.
A generic chart showing averages is less useful than it appears because the actual numbers depend on your age, home value, existing mortgage balance, and current rates. The most useful comparison is two side-by-side Loan Estimates from an independent broker who runs multiple programs against your actual numbers. The reversemortgage.coach calculator provides a starting estimate without personal information. For a complete comparison, a CRMP consultation typically produces that in thirty minutes.
Jay Zayer, CRMP — 18 Years Experience
When someone asks me for a comparison chart, what they really want is to see their own numbers side by side. That is what I produce — not a generic chart but an actual comparison showing what the HECM would give them versus the best proprietary option, with real rates, real fees, and real net proceeds. I compare every program I have access to and show the client the one that wins for their situation. The whole point of being independent is that I do not have a preference.
Who This Is Right For
This may be a good fit if:
- Homeowners researching reverse mortgage options before talking to a lender
- Financial advisors comparing structures for a specific client
This may NOT be the right fit if:
- Nobody — understanding the comparison framework is appropriate for anyone considering a reverse mortgage
Common Misconception
Myth: All reverse mortgages are the same program with the same terms.
Fact: There are more than 35 distinct product variations across HECM and proprietary categories, each with different rates, fees, limits, and payout structures.
Source: HUD: HECM program overview — hud.gov
Authoritative Sources
- HUD: HECM program parameters — hud.gov
- FHA: Mortgage insurance premium schedules — hud.gov
- CFPB: Reverse mortgage comparison guide — consumerfinance.gov
People Also Ask
Is there a standard reverse mortgage comparison chart?
No. Programs vary by lender, rate, and borrower inputs. A meaningful comparison requires your specific age, home value, and goals.
What is the main difference between HECM and proprietary?
HECM is FHA-insured with a $1,249,125 limit and charges FHA mortgage insurance. Proprietary programs access the full home value without the FHA premium.
How do I compare reverse mortgage options?
Request Loan Estimates from an independent broker who can run multiple programs using your actual numbers and show you the best option for your situation.