Do I Qualify?
To qualify for a reverse mortgage:
- you must be at least 62 years old. In the case of a couple or co-owners, both must be
62 if their names appear on the title to the home.
- you must have equity in your home. You may qualify even if you have an outstanding balance
on your first mortgage.
- you must reside in a single family dwelling, townhouse, condominium, detached home,
or certain manufactured homes.
- 1-4 family, co-op, second homes and "Gentleman" farms
are also eligible for some programs.
To see how much you could qualify for, try
the Reverse
Mortgage Calculator.
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