The condo must be FHA approved in order to obtain a HECM.
Your option here would be a Non-HECM Mortgage, if you can find one. See below for some information
Single-purpose reverse mortgages are offered by some government and non-profit organizations. They may only be available in some areas for homeowners with low to moderate income and used only for the purpose specified by the lender (for example home repairs or property taxes).
Some lenders also offer proprietary reverse mortgages, which are not federally insured and are typically designed for borrowers with higher home values.
I hope this helps! Best of luck!
Tony Grech | Mortgage Loan Originator | NMLS 977416
PMAC Lending Services, Inc.
24901 Northwestern Highway Suite 407
Southfield, MI 48075
Toll-free (855) 642-4762 | Fax (248) 945-4842 | Direct (248) 728-0078