Many Treasure Valley condos qualify for HECM if the project meets approval criteria. If not, some proprietary reverse mortgages may still be options. Documentation and early verification are key.

Approval Basics

• Project approval (FHA list or spot approval routes where applicable).

• Budget/insurance requirements; owner-occupancy ratios.

• HOA cooperation for documents.

If Your Condo Isn’t Approved

• Explore proprietary reverse options (jumbo/private).

• Consider spot/project approval paths when available.

• Review alternatives with a clear cost/benefit comparison.

Documents to Gather Early

• HOA budget, insurance, bylaws/CC&Rs, litigation status.

• Condo questionnaire; master policy details.

Timeline & Expectations

• Allow time for HOA coordination and lender review.

• Appraisal must support value and marketability.

Responsible Next Steps

• Verify project status before counseling.

• Get a written scenario comparison (HECM vs proprietary) with net proceeds.