Reverse Mortgage Counseling

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

History of the Reverse Mortgage – 1969 to Present Day Facts

September 1, 2025     4 comments

Bringing it to the Senate Reverse mortgages have been through many changes in their short, 57-year (depending on who you ask) lifespan.  As the story goes, a small, local bank wrote the first reverse mortgage in 1961 to a woman in Portland, Maine.  The bank owner wanted to help the wife of his high school football coach stay in her home after her husband passed away. From there, the product took off and continues to help more older Americans remain in their homes... Read Full Article

3 Types of Reverse Mortgages Explained: Which One Is Right for You?

September 1, 2025     5 comments

If you're exploring ways to use your home's equity to improve your financial security in retirement, it's helpful to know that there are three main types of reverse mortgages, each designed for different needs. In this article, we'll explain: Home Equity Conversion Mortgages (HECM): The most popular, federally insured option. Proprietary Reverse Mortgages: Also known as "jumbo" reverse mortgages, these are ideal for homes with higher values. Single-Purpose Reverse Mortgages: A cost-effective choice for specific financial goals. We'll break down the key features of each, highlight how they can support... Read Full Article

Banks That Offer Reverse Mortgages in 2025 | Compare Rates & Reviews

August 11, 2025     no comments

In 2025, only a small number of regional and specialty banks offer reverse mortgages, including University Bank, The Federal Savings Bank, and Magnolia Bank. Most large banks left the market years ago, so many borrowers choose specialized non-bank lenders for better rates and service. Do Banks Offer Reverse Mortgages in 2025? While large national banks like Wells Fargo, Bank of America, and Chase are familiar names for traditional mortgages, they no longer offer reverse mortgages.  Most exited the market over a decade ago, citing regulatory changes, market risk,... Read Full Article

ARLO™ HELOC: The Alternative to a Reverse Mortgage

August 1, 2025     no comments

As interest rates remain high, many homeowners nearing or in retirement are seeking ways to access their home equity without refinancing their historic low-rate mortgages.  That’s where a Home Equity Line of Credit (HELOC) for seniors & retirees can be a smart solution. This modern HELOC offers fast access to funds, flexible repayment, and a fully online application process designed specifically for older homeowners—without the need to sell or give up your home. What is the ARLO™ HELOC? The ARLO HELOC is a home equity line of credit built for... Read Full Article

3 Best Reverse Mortgage Calculators (No Personal Info Required)

July 23, 2025     no comments

When planning for retirement, one of the most important steps is knowing how much you can borrow with a reverse mortgage.  But let’s face it—most online calculators ask for your phone number or email before showing your results. That’s why we’ve ranked the top 3 free reverse mortgage calculators that give instant quotes with no personal info required.  These tools are easy to use, private, and accurate. Understanding Reverse Mortgage Calculators When exploring reverse mortgage options, it’s essential to rely on trustworthy sources, especially when making significant financial... Read Full Article

What Is a HECM? 2025 Home Equity Conversion Mortgage Guide

July 13, 2025     12 comments

What Is a HECM (Home Equity Conversion Mortgage)? A Home Equity Conversion Mortgage (HECM) is the FHA-insured reverse mortgage program for homeowners age 62 and older. It lets you convert part of your home equity into tax-free cash without giving up ownership or making required monthly mortgage payments. You must still cover property taxes, insurance, and upkeep, and the loan is repaid when the home is sold, the last borrower moves out, or passes away. In this updated 2025 guide, you’ll learn: How a HECM works and who qualifies Current... Read Full Article

The Realtor’s Guide to Reverse Mortgages for Home Purchase

April 15, 2025     2 comments

Why Realtors Should Understand Reverse Mortgages for Home Purchase The HECM for Purchase program (Home Equity Conversion Mortgage) is an FHA-insured loan that allows homebuyers aged 62 and older to purchase a new primary residence with no monthly mortgage payments.  This benefits your senior buyers, helps your sellers move their listings, and ultimately helps you close more transactions. Yet many real estate professionals are unaware of this powerful tool—or they’ve heard myths that just aren’t true.  When used correctly, a reverse mortgage for purchase can close just as quickly... Read Full Article