How to Qualify for Reverse Mortgage in Florida and Virginia

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 house, give up the 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 Purposes & Eligibility

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

Minimum credit scores and maximum loan limits apply. Not all applicants may qualify. Equal Housing Lender. Some products may not be available in all states. Credit and collateral are subject to approval. This is not a commitment to lend. Program, rates, terms and conditions apply. All rights reserved.