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The minimum qualifying age for a reverse mortgage is 55

Don’t forget to include your spouse’s age, even if they are not yet 55, as loan proceeds are always based on the age of the youngest spouse.

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Posts Tagged 'hecm vs heloc'

Reverse Mortgage vs HELOC: Side-by-Side Comparison

October 23, 2012 no comments

I would like to know how a "line of credit" would work compared to a HELOC. I owe a 2nd on my home for approx. 9,000.00. The first will be paid off in Dec. 2012. My home NOW is worth approximately $210,000.00. The 2nd is with Chase Home Equity. I would like to ONLY borrow enough at times on the...
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