Calculate Home Equity Gains Reverse Mortgage Eligibility Now
What is a Reverse Mortgage?
A reverse mortgage is a financial product designed for homeowners aged 62 and over, allowing them to convert part of their home equity into cash without having to sell their home or make additional monthly payments. The most common type of reverse mortgage is the Home Equity Conversion Mortgage (HECM), which is federally insured and provides several payout options, including lump sums, monthly payments, or lines of credit. This flexibility makes reverse mortgages an attractive option for many retirees seeking to supplement their income1.