How to Qualify

How To Qualify

A Reverse Mortgage enables homeowners 62 and older to convert part of the equity in their homes into cash without having to sell the home, give up title, or take on a new monthly mortgage payment. The homeowner continues to pay insurance and taxes while they live in and maintain the home.

Reverse Mortgage proceeds can be used for virtually anything:

  • Supplement your retirement cashflow
  • Help fund healthcare costs
  • Retire existing debt, even an existing mortgage
  • Pay for home repairs or modifications
  • Help prevent foreclosure
  • Cover property taxes
  • Even secure a cash reverse for emergencies

Your home must be your primary residence. Eligible property types include:

  • Single family homes
  • 1-4 unit properties
  • Some manufactured homes
  • Condominiums and townhouses