The key to a more secure retirement might already be in your pocket.


Any homeowner age 62 or older who meets the eligibility requirements listed below can apply for a reverse mortgage. To help you decide if a reverse mortgage is a sound financial option for you, call us toll free today at 855-523-4326 and speak with one of our reverse mortgage experts.

There are a few simple eligibility requirements.

To be eligible for a reverse mortgage, you’ll need to meet the following government-mandated criteria:

  • You must be age 62 or older (this applies to all borrowers listed on the home’s title).
  • You must live in the home as your principal residence.
  • The home must meet minimum property standards set by the U.S. Department of Housing and Urban Development. (HUD)—though you can, however, use your reverse mortgage proceeds to pay for certain required repairs in order to meet these standards.
  • You can’t have any outstanding federal tax liens and must have made your property tax payments for the last two years.

The amount you can borrow depends on the value of your home and your age.

The more your home is worth, the more you can borrow. Home values have started to recover in many parts of the country, so you might be surprised about just how much equity you have. The amount you qualify for also depends on the age of the youngest borrower, with older borrowers receiving more.

Even if you have an existing mortgage, you may still be eligible.

Having a mortgage on your home isn’t necessarily a problem. Your reverse mortgage would first be used to pay off the existing mortgage(s), and then any remaining proceeds would be yours. Many homeowners use a reverse mortgage for just this purpose, freeing themselves from the burden of monthly mortgage payments.

The amount of equity in your home makes a difference.

The more equity you have in your home, the more likely it is that you can get cash from a reverse mortgage to supplement your income, cover health care expenses, or take a trip. Use our reverse mortgage calculator to see how much you could qualify to receive.

See also:
What is a Reverse Mortgage
Reverse Mortgage Facts
Is a Reverse Mortgage Right for Me?