Check Age Eligibility

Reverse Mortgage Age Requirements in 2025

September 27, 2025     22 comments

If you’re exploring a reverse mortgage, the first question is simple: how old do you need to be? Quick Answer:  For a federally insured Home Equity Conversion Mortgage (HECM), the most common reverse mortgage, you must be at least 62 years old when the loan closes.  That rule remains unchanged for 2025. Some private or "jumbo" reverse mortgages allow borrowers as young as 55, but these are not FHA-insured.  Knowing where you fit helps you choose the right program and see how much equity you might unlock. Minimum Age... Read Full Article

Reverse Mortgage Property Requirements – New for 2025

September 26, 2025     130 comments

I would like to know the exact reverse mortgage property requirements, such as central heating, water wells, septic systems, etc.  To hear these reverse mortgages advertised, one might get the impression that getting one is very simple.  However, after some preliminary inquiries, it's beginning to look like everything else involving the government can become incredibly complicated. Updated September 2025 with the latest HUD 4000.1 rules on ADUs, manufactured homes, and PACE liens Understanding HUD’s Property Standards When applying for a reverse mortgage, your home must meet specific property standards... Read Full Article

Reverse Mortgage Pros and Cons – Compare Costs, Risks & Benefits in 2025

September 20, 2025     15 comments

A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), allows homeowners aged 62 and older to convert their home equity into cash without making monthly mortgage payments.  It can be a powerful way to stay in your home and improve retirement security, but it’s not the right fit for everyone.  This guide breaks down the real pros and cons of reverse mortgages in simple terms so you can decide whether this loan works for your long-term retirement plans. Is a Reverse Mortgage a Good Idea? Good fit:... Read Full Article

Shocking Truth About Condominiums and Reverse Mortgages

September 16, 2025     82 comments

Many senior borrowers eligible for reverse mortgages or about to become qualified and live in condominium projects have yet to learn of the surprises that may be waiting for them.  You may know neighbors who live in your project, currently have reverse mortgage financing, and have heard about how easy it was. Unfortunately, changes in condominiums and HUD programs in the past few years have changed much of this.  If you live in a condominium, before you start making plans that include a reverse mortgage, you should know about the... Read Full Article

5 Options When You Don’t Qualify for a Reverse Mortgage (2025 Guide)

September 15, 2025     2 comments

If you've applied for a reverse mortgage and found that you don't qualify—or the amount offered isn't enough to pay off your existing mortgage—you're not alone.  Many homeowners are surprised when changing interest rates or updated HUD limits reduce the proceeds they're eligible for. The good news?  Even if you don't qualify today, you still have options.  In this guide, we'll explore five strategies that can help you move forward. Why You Might Not Qualify for a Reverse Mortgage Several factors determine how much money you receive from a... Read Full Article

Debunking the Top 10 Reverse Mortgage Downsides

September 9, 2025     17 comments

Reverse mortgages have long been surrounded by misconceptions, leading many to believe they come with significant downsides.  In reality, many of these concerns are based on myths.  In this guide, we will debunk the top 10 common claims about the downsides of reverse mortgages, providing you with the clarity you need. Whether you're exploring reverse mortgage options for yourself or assisting a loved one, understanding the facts behind these so-called 'downsides' will help you make a confident and informed decision. Claim #1: Reverse Mortgages Have Growing Interest and... Read Full Article

Reverse Mortgage Definition and Glossary (A-Z)

September 1, 2025     75 comments

Reverse Mortgage (Definition) A reverse mortgage is a home loan for borrowers typically aged 62 and older that allows you to convert a portion of your home equity into tax-free cash without required monthly mortgage payments. You retain title and are responsible for continuing to pay property taxes and homeowner's insurance. Interest accrues and is added to your balance and can be repaid at any time. Most borrowers repay the loan when they sell their property, move out, or pass away. HECM reverse mortgages are insured by the Federal... Read Full Article

Top 10 Reverse Mortgage Counseling Agencies (Free & Online Availability)

September 1, 2025     17 comments

The U.S. Department of Housing and Urban Development (HUD) requires that homeowners considering a Home Equity Conversion Mortgage (HECM) receive essential counseling.  This counseling, provided by a HUD-approved HECM agency, covers the details and alternatives of reverse mortgages. To assist you, we are required to offer a list of approved reverse mortgage counseling agencies.  This list includes five nationwide companies as specified by HUD for HECM, alongside local agencies near you.  The number of nearby agencies varies; some borrowers may have several options, while others might need to travel further... Read Full Article

Reverse Mortgage Occupancy Requirements Explained

September 1, 2025     76 comments

We live with my mother-in-law and were present throughout the process of her getting a reverse mortgage.  The broker is fully aware that we live there with her, help keep up the property, and pay living expenses.  He told us if she ever needed to go to a nursing home, if she was in the home at least once a month, they would not recall the loan.  What I am reading here seems contradictory to what we were told.  We were also told about having 12 months to sell or... Read Full Article

Reverse Mortgage Income Requirements in 2025

September 1, 2025     48 comments

Understanding Reverse Mortgage Income Requirements Welcome to our 2025 guide on reverse mortgage income requirements. This article explains the financial assessment underwriting guidelines, specifically the minimum residual income requirements established by HUD. These requirements play a crucial role in the lender’s application process, ensuring that you, as a borrower, can comfortably manage ongoing property-related expenses, such as property taxes, homeowners insurance, and maintenance costs, after securing a reverse mortgage. We will provide clear, easy-to-follow tables that detail the minimum residual income needed based on your family size and the region of the... Read Full Article