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

    • All titleholders must be aged 62 (in some cases,60) 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 HUD’s 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 a HUD-approved counseling session There are other financial requirements.
    • 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.

    Click Here to Apply For A Reverse Mortgage