Millions of homeowners 62 and older are discovering how a reverse mortgage can provide financial freedom in retirement — without selling their home or making monthly payments.
A licensed advisor will follow up to walk you through your options — no pressure, no obligation.
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You keep the title to your home and remain responsible for property taxes, homeowner's insurance, and upkeep for as long as you live there. Not meeting these obligations could result in default.
A reverse mortgage is a federally insured loan that allows homeowners 62 and older to convert a portion of their home equity into tax-free cash — without selling their home or making monthly mortgage payments.
Think of it as accessing money that's already yours. Over the years you've built equity in your home. A reverse mortgage simply lets you use it while you continue living there.
You remain the owner of your home for as long as you live there. The loan only becomes due when you sell, move out permanently, or pass away.
Unlike a traditional mortgage or home equity loan, you are not required to make monthly payments. The loan balance is repaid when the home is eventually sold.
The money you receive from a reverse mortgage is generally not considered taxable income. Most homeowners use it to supplement retirement income, cover healthcare costs, or pay off existing debt.
Most reverse mortgages are Home Equity Conversion Mortgages (HECMs), insured by the Federal Housing Administration (FHA) — providing protections for both you and your heirs.
Getting started is simpler than most people expect. Here's what the process looks like from your first conversation to receiving your funds.
You'll speak with a licensed reverse mortgage specialist who will review your situation, answer every question you have, and help you understand whether this is the right option for you — with zero pressure to move forward.
Federal law requires all reverse mortgage applicants to complete a session with an independent, HUD-approved housing counselor. This step protects you and ensures you fully understand the loan before proceeding.
Your lender will order a professional appraisal of your home. The amount you can access is based on your age, the home's value, and current interest rates.
Your application is reviewed and approved — typically within a few weeks. You'll receive a clear disclosure of all terms before signing anything.
You choose how you'd like to receive your money — as a lump sum, monthly payments, a line of credit, or a combination. Funds are disbursed after a mandatory 3-day right-of-rescission period.
Yes. You retain full ownership and title to your home. The lender does not take ownership. You simply have a loan against the equity you've built — just like a traditional mortgage.
Because HECMs are FHA-insured, you or your heirs will never owe more than the home is worth at the time it is sold. This is called a "non-recourse" loan — your other assets are fully protected.
Yes. When the loan becomes due, your heirs have the option to repay the balance and keep the home, or sell the home and keep any remaining equity after the loan is repaid.
Credit requirements for a reverse mortgage are significantly more flexible than for traditional loans. A lender will review your credit history, but the primary qualifications are your age (62+), home equity, and that the home is your primary residence.
Not exactly. A home equity loan requires monthly repayments, while a reverse mortgage does not. With a reverse mortgage, the balance grows over time as interest accrues, and is repaid when you leave the home.
There's no cost, no commitment, and no pressure. Just a straightforward conversation about whether a reverse mortgage makes sense for your situation.
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