Reverse Mortgage Specialist · NMLS-Licensed
Reverse Mortgages
Explained honestly, with your goals first.
Mark Hairston has spent his career helping Central Texas homeowners 62+ understand whether a HECM reverse mortgage actually fits their retirement plan - not whether it can be sold to them.
Why homeowners consider a HECM
Four things a reverse mortgage does that other loans can't
Stay in your Central Texas home
A HECM lets homeowners 62+ tap equity while keeping title and living at home as long as they wish, provided property taxes, insurance, and upkeep stay current.
Eliminate the monthly mortgage payment
Refinance an existing forward mortgage into a reverse mortgage and free up hundreds - sometimes thousands - of dollars in monthly cash flow.
A growing, non-cancellable line of credit
The unused portion of a HECM line of credit actually grows over time at the note rate plus MIP - a rare feature no HELOC offers.
Federally insured through HUD
The HECM is a non-recourse loan insured by FHA. You (or your heirs) will never owe more than the home is worth when the loan is repaid.
Real Central Texas scenarios
When a reverse mortgage actually fits
Retire the forward mortgage
The most common Austin scenario: pay off an existing mortgage with a reverse mortgage and remove the required monthly payment entirely.
Fund care for one spouse at home
When one spouse needs assisted living or memory care, a reverse mortgage can fund that care while the other spouse remains in the homestead.
Bridge to Social Security or a pension
Delay claiming Social Security to age 70 by drawing from a reverse mortgage line of credit in the interim - a legitimate retirement-income strategy.
Buy the right-size home (HECM for Purchase)
Downsize or move closer to family in Georgetown, Round Rock, or Cedar Park - and buy the new home with a HECM, without ever taking on a monthly payment.
Protect an investment portfolio in down markets
Draw from a HECM line of credit during market drawdowns instead of selling investments at a loss - a documented sequence-of-returns strategy.
Standby line of credit for the unexpected
Open a HECM line of credit now, use nothing today, and let the credit line grow year over year for future medical or home-repair surprises.
Myth vs. reality
What people get wrong about reverse mortgages
Myth
“The bank takes the house.”
Reality
You keep title. The lender never owns the home. As long as you live there, pay property taxes and insurance, and maintain the home, no one can take it.
Myth
“My heirs will owe money.”
Reality
HECMs are non-recourse. Heirs can sell the home to repay the loan, refinance to keep it, or walk away with no personal liability. They will never owe more than the home's value.
Myth
“You have to be house-poor or desperate to get one.”
Reality
Today's reverse mortgage is a mainstream retirement-income tool used by wealthy retirees as a portfolio hedge and by average Austin homeowners as a cash-flow strategy.
Myth
“I'll lose my Social Security or Medicare.”
Reality
A reverse mortgage does not affect Social Security or Medicare. It CAN affect need-based programs like Medicaid or SSI - which we screen for before recommending anything.
The process
Four steps, roughly 30 - 45 days
- 01
Education-first conversation
A 20 - 30 minute call with no obligation. We map your goals, cash flow, timeline, and whether a reverse mortgage is even worth exploring further.
- 02
Independent HUD counseling
Federal law requires third-party counseling before any HECM application. This protects you and confirms you fully understand the product.
- 03
Application, appraisal & underwriting
Financial assessment, home appraisal, and title work. Most Austin-area files close in 30 - 45 days.
- 04
Closing at home or at title
You sign at the title company or - for mobility reasons - at your kitchen table. A federal 3-day right of rescission follows every refinance closing.
Frequently asked
Reverse mortgage FAQ
- Who qualifies for a reverse mortgage in Texas?
- You must be 62 or older, occupy the home as your primary residence, have significant equity (typically 50%+), and be able to keep up with property taxes, homeowners insurance, and basic maintenance. There is no minimum credit score, but a financial assessment is required.
- How much money can I get from a reverse mortgage in Austin?
- The Principal Limit depends on the youngest borrower's age, current interest rates, and the home value (up to the 2026 FHA lending limit of $1,209,750). A 72-year-old with a $600,000 Austin home and no forward mortgage might see a Principal Limit around $290,000 - $340,000, depending on rates.
- What are the closing costs on a reverse mortgage?
- Typical upfront costs include an FHA mortgage insurance premium (2% of home value up to the lending limit), origination fee (capped at $6,000), appraisal, title, and standard third-party fees. Most Central Texas HECMs total $12,000 - $18,000 in upfront costs, which are usually financed into the loan.
- Do I have to make monthly payments on a reverse mortgage?
- No. There are no required monthly principal or interest payments. You are responsible for property taxes, homeowners insurance, and home maintenance - the same ongoing costs you already have. Failing to pay taxes and insurance is the most common reason HECMs go into default.
- What happens to the reverse mortgage when I die?
- The loan becomes due. Your heirs typically have 6 months (with two 90-day extensions available) to sell the home, refinance to keep it, or turn over the deed. Because the loan is non-recourse, they will never owe more than the home is worth.
- Can I refinance out of a reverse mortgage?
- Yes. You can pay off a reverse mortgage at any time with no prepayment penalty - by selling, refinancing to a traditional mortgage, or using other funds.
- Is a reverse mortgage taxable income?
- No. Reverse mortgage proceeds are loan advances, not income, so they are not taxable and do not affect Social Security or Medicare benefits. They can affect Medicaid and SSI eligibility - always speak with an elder law attorney before drawing down significant funds if these programs are on the horizon.
- What is the difference between a reverse mortgage and a HELOC?
- A HELOC requires income qualification and monthly payments, and the lender can freeze or reduce the line at any time. A reverse mortgage (HECM) requires no monthly payment, cannot be frozen or called, and the unused line of credit actually grows over time. Costs and structures are very different - see our full comparison in the Aging Well Academy.
Local guidance, city by city
Central Texas cities Mark serves
Each city page has local home value context, neighborhoods served, and honest scenarios drawn from real conversations.
- Travis CountyReverse Mortgages in AustinMedian home value $565,000 · 11.4% residents 65+View Austin guide
- Williamson CountyReverse Mortgages in Round RockMedian home value $412,000 · 12.1% residents 65+View Round Rock guide
- Williamson CountyReverse Mortgages in GeorgetownMedian home value $438,000 · 22.8% residents 65+View Georgetown guide
- Williamson CountyReverse Mortgages in Cedar ParkMedian home value $472,000 · 9.7% residents 65+View Cedar Park guide
- Travis CountyReverse Mortgages in LakewayMedian home value $785,000 · 27.4% residents 65+View Lakeway guide
- Travis CountyReverse Mortgages in WestlakeMedian home value $1,850,000 · 20.6% residents 65+View Westlake guide
Ready for an honest, no-pressure conversation?
Twenty minutes on the phone with Mark. No forms, no hard sell - just a straight answer on whether a reverse mortgage makes sense for your family.