Reverse Mortgage (HECM) Guide for Ohio Homeowners 62+
Ohio has approximately 840,000 homeowner households led by someone 62 or older — one of the largest senior homeowner populations in the Midwest. Ohio's median home value of $193,000 means homeowners can often qualify for a HECM with a relatively modest property value. For Ohio retirees on fixed incomes, eliminating a monthly mortgage payment or accessing equity for healthcare expenses can have an outsized financial impact.
Source: U.S. Census Bureau ACS 2022 1-Year Estimates (Table B25077); U.S. Census Bureau ACS 2022 1-Year Estimates (Table B25007)
$1,249,125
Ohio's home values are significantly below the 2026 FHA HECM limit of $1,249,125. Virtually all Ohio homeowners can access HECM proceeds based on their full appraised value. Even premium Columbus, Cleveland Heights, and Cincinnati neighborhoods rarely approach the national cap.
Source: HUD Mortgagee Letter 2025-21
Ohio Reverse Mortgage Protections
Ohio does not require reverse mortgage counseling beyond the federal HUD mandate. The Ohio Division of Financial Institutions regulates mortgage lenders in the state. Ohio's general Consumer Sales Practices Act (O.R.C. § 1345) provides baseline consumer protections against deceptive practices that apply to all financial transactions, including reverse mortgages.
Source: Ohio Revised Code § 1345; Ohio Division of Financial Institutions
HUD-Approved Counseling in Ohio
Federal law requires an independent counseling session before any HECM application. Counseling can be done by phone and typically takes 60–90 minutes. Find a HUD-approved counselor in Ohio →
Ohio HECM FAQ
Are HECMs available in Ohio?
Yes. HECMs are available statewide in Ohio, including Columbus, Cleveland, Cincinnati, Dayton, and rural communities. FHA-approved lenders licensed in Ohio can originate HECM loans on eligible primary residences.
Does Ohio require additional reverse mortgage counseling?
No. Ohio relies on the federal HUD counseling requirement. Before any HECM application, borrowers must complete a session with a HUD-approved independent counselor. Ohio has numerous HUD-approved agencies in its major metro areas.
How do Ohio property taxes interact with a HECM?
HECM borrowers must keep Ohio property taxes current. Ohio's Homestead Exemption reduces property taxes for qualifying homeowners 65 or older (or permanently disabled) — reducing the first $25,000 of home value from taxation. The program can lower annual tax bills, making it easier to stay current on property obligations while holding a HECM.
What if I have a HELOC on my Ohio home?
An existing HELOC must be paid off and closed at HECM closing. Ohio lenders will require title to be free of subordinate liens before disbursing HECM funds.
Where can I find a HUD-approved HECM counselor in Ohio?
Use the HUD HECM Counselor Search (link above) filtered to Ohio. HUD-approved agencies are available in Columbus, Cleveland, Cincinnati, and other major metros. Phone counseling is available for rural Ohio residents.