Can You Get a Second Reverse Mortgage?

You generally cannot have two reverse mortgages on the same home at once, because a HECM must be in first lien position — it has to be the only primary loan on the property. However, a homeowner can sometimes get a new reverse mortgage on a different property they make their primary residence, or refinance an existing one into a new HECM (a “HECM-to-HECM refinance”) if there is enough added equity to justify it. The right answer depends on equity, age, and current rules, so review it with a HUD-approved counselor or lender.