Who is Elgible?

To qualify for a reverse mortgage loan, the youngest homeowner must at least 62 years old, live in the home as their primary residence and have sufficient home equity. Borrowers must also meet financial eligibility criteria as established by HUD.

Eligibility assessments use a Federal Housing Administration (FHA) calculation that considers among others, the following factors:

•Age of the youngest homeowner

•Current value of the property

•Balance on existing mortgage loans

•Interest rates