Calculate Home Equity Gains Reverse Mortgage Eligibility Now

Eligibility for a Reverse Mortgage

To qualify for a reverse mortgage, you must meet several criteria, including being at least 62 years old, owning the home outright or having a low mortgage balance that can be paid off at closing with the proceeds from the reverse loan. Additionally, you must live in the home as your primary residence, and the property must meet FHA property standards and flood requirements. Lenders will also assess your financial situation to ensure you can afford ongoing property charges, such as taxes and insurance³.