Eligibility and Requirements

Is a reverse mortgage right for you?

• Borrowers must be 62 years of age or older
• Your home must be your primary residence
• You must own your home free and clear, or the existing mortgage is required to be refinanced with the reverse mortgage proceeds
• Educational counseling with a HUD-approved counselor is required

Program Requirements

• You or one of the borrowers must continue to live in the house
• Taxes and insurance on the property must be kept current
• The property must be maintained to FHA standards