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The minimum qualifying age for a reverse mortgage is 62

Don’t forget to include your spouse’s age, even if they are not yet 62, as loan proceeds are always based on the age of the youngest spouse.

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Posts Tagged 'downpayment'

How much is the downpayment required for a HECM purchase?

January 17, 2017 4 comments

We understand to do a reverse purchase mortgage have to put at least 51% down. Using 100k as example, wife understands we can get back some of the 100k...if so, when? - Art Hello Art, Firstly, the amount you put down depends on your age and the value of the home as it relates also to the HUD maximum...
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