What is a Reverse Mortgage?


A reverse mortgage is a federally insured loan that allows people over the age of 62 to convert some of their home equity into tax free income while retaining title to their home. Clients can RECIEVE monthly payments, a lump sum, or a line of credit.

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    A reverse mortgage is a government FHA insured loan.

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    RECEIVE monthly income, line of credit or cash.

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    Instead of making mortgage payments, you can choose a mortgage plan that pays you.

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    You continue to own and live in your home, provided all program requirements are met.

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    You must be age 62 or older.

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    Even if you have an existing mortgage balance, you may still qualify for a reverse mortgage. A reverse mortgage can be used to pay off an existing mortgage or any other monthly debts.

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    Your Social Security and Medicare benefits are not affected*

Questions and Answers


Yes, you continue to receive benefits as long as you continue to live in the home, keep the property taxes and insurance current, and maintain the property to FHA standards.
Yes, reverse mortgage funds can be used for any purpose, including healthcare and medical expenses.
If you already have a reverse mortgage, you may be eligible for additional funds or improving your eligible benefits structure.
Yes, your reverse mortgage funds can be used for home repairs or improvements.
The reverse mortgage borrower retains ownership and lives in their home, as long as all program requirements are met. Also, any remaining equity belongs to the borrower or their heirs – none of their assets will be affected by the reverse mortgage.

Do you have reverse mortgages?