Why is this loan right for me?
A reverse mortgage can be a good fit if you’re a homeowner looking to turn built-up home equity into flexible, tax-free funds without taking on a monthly mortgage payment. It’s designed for those who’d prefer to supplement retirement income while staying right where they are—no downsizing, no moving boxes, no trying to remember which neighbor borrowed your ladder.
Benefits of this loan
This program allows eligible homeowners to access part of their equity as cash, a line of credit, or monthly payments, all while continuing to live in their home. Borrowers can enjoy financial breathing room, protection from falling home values, and the reassurance that repayment typically doesn’t happen until the home is sold or no longer occupied as a primary residence.
Eligibility requirements
To qualify, borrowers must meet minimum age requirements, live in the home as their primary residence, maintain the property, and stay current on taxes and insurance. The home must meet program guidelines, and counseling from a HUD-approved provider is required to ensure you fully understand the commitment before diving in.
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