• Reverse Mortgage Qualifications

    Reverse mortgages are a powerful financial tool for homeowners aged 62 and older — but not everyone qualifies. At Janus Mortgage, we make it easy to understand if you're eligible and guide you through the process step-by-step.

  • Not Sure If You Qualify? - Here Are the Reverse Basics

    The basic eligibility requirements to get a reverse mortgage loan are:

    • All homeowners must be aged 62 (in some cases, 55) years or over
    • Generally, you need at least 50% equity in the home (or down payment in the case of a purchase).  This is NOT a hard and fast rule.  It is dependent upon age and other factors.
    • The home must be your principal residence The home must meet minimum property standards and be either a single-family residence, a residence in a 2- to 4-unit dwelling.
    • The down payment must be from qualifying sources (if a purchase).
    • You must complete an approved counseling session There are other financial requirements.

  • What Could Disqualify You?

    • All potential applicants must go through a Financial Assessment. This is to make sure that all borrowers can meet the obligations of the property (taxes, insurance and other property charges) without the assistance of the loan.

    Even if you meet most requirements, you may not qualify if:

    • You have significant federal debt (e.g., unpaid taxes)

    • You’re behind on property taxes or insurance

    • Your home doesn't meet HUD safety standards

    Don’t worry — we help many clients fix these issues and qualify successfully!

  • Additional Resources - See Below

  • Find Out How Much You Could Qualify For — No Obligation

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