Reverse
Unlocking Home Equity for Enhanced Retirement Living
Reverse Requirements
62
Minimum Age
Reverse mortgage programs require homeowners to be at least 62 years old. This is the minimum for the federally insured HECM program.
50%
Equity Threshold
Most situations require at least 50% equity in your home, though this can vary. Some programs might require more, such as 55% or even 60% equity.
Other Requirements
Primary Residence
For a property to qualify as a primary residence in the context of a reverse mortgage, you must live in the home for the majority of the year. This is typically interpreted as you living in the property for more than half of the year.
Counseling
Before obtaining a reverse mortgage, you must undergo counseling with an approved housing counseling agency. This counseling session helps you understand the terms, costs, and obligations associated with a reverse mortgage. We can guide you through this process.
