Reverse Mortgages, Explained Clearly
For many homeowners 62 and older, a reverse mortgage can turn home equity into cash or income with no required monthly mortgage payment. Here's everything you need to decide whether it fits your life.
How It Works
What Is a Reverse Mortgage?
A loan against your home equity with no required monthly mortgage payment, repaid when you sell, move, or pass away.
Learn moreHow Does a Reverse Mortgage Work?
How funds are paid out, how the balance grows, and what triggers repayment.
Learn moreWhat Is a HECM?
The FHA-insured Home Equity Conversion Mortgage — the most common reverse mortgage.
Learn moreHECM vs. Proprietary Reverse Mortgage
How federally insured loans compare with private 'jumbo' programs.
Learn moreHECM for Purchase
Using a reverse mortgage to buy a new home.
Learn moreThe Process & Timeline
From first conversation to closing, step by step.
Learn moreEligibility
Eligibility
What actually determines whether you qualify.
Learn moreAge Requirements
Who must meet the age threshold and how age affects what you can access.
Learn moreFinancial Assessment
How lenders confirm you can keep up with taxes, insurance, and upkeep.
Learn moreProperty Requirements
Which homes qualify and the condition standards they must meet.
Learn moreExisting Mortgage
How a reverse mortgage works when you still owe on your home.
Learn moreRequired Counseling
The HUD-approved counseling session every HECM borrower completes.
Learn moreMoney & Payout Options
How Much Can I Get?
What determines your available funds — age, home value, and rates.
Learn moreReverse Mortgage Calculator
Estimate how much you may be able to access.
Learn morePrincipal Limit
The maximum amount available to you, and how it's calculated.
Learn morePayout Options Overview
Lump sum, line of credit, monthly payments, or a combination.
Learn moreLine of Credit
A flexible credit line whose unused portion can grow over time.
Learn moreMonthly Payment Option
Tenure and term payments that provide steady monthly income.
Learn moreLump-Sum Option
Receiving funds all at once — when it makes sense and when it doesn't.
Learn moreCosts & Responsibilities
Rates
Fixed vs. adjustable rates and how they affect your loan.
Learn moreCosts & Fees
Every cost involved, explained plainly.
Learn moreClosing Costs
Origination, mortgage insurance, and third-party fees at closing.
Learn moreHow Interest Works
Why the loan balance grows over time and how interest accrues.
Learn moreTaxes & Insurance
Your ongoing obligations — and what happens if they aren't paid.
Learn moreSpouses & Family
Married Couples
How a reverse mortgage works when both spouses are on the loan.
Learn moreNon-Borrowing Spouses
Protections for a spouse who isn't a borrower.
Learn moreHeirs & Inheritance
What your heirs can do with the home and what they owe.
Learn moreDeath of Borrower
What happens to the loan and the home when a borrower passes away.
Learn moreLife After Getting a Reverse Mortgage
Selling a Home With a Reverse Mortgage
How the loan is paid off when you sell, and what you keep.
Learn moreMoving
What happens if you move out of the home.
Learn moreAssisted Living / Nursing Care
How an extended stay in a care facility affects your loan.
Learn moreRepayment
When the loan comes due and the ways it can be repaid.
Learn moreRefinancing a Reverse Mortgage
When refinancing may make sense.
Learn moreRisks & Consumer Protection
Pros & Cons
An honest look at the benefits and drawbacks.
Learn moreRisks
The main risks to understand before you decide.
Learn moreForeclosure / Default Risk
What causes default and how to prevent it.
Learn moreScams & Consumer Protections
Red flags, common scams, and the protections built into HECMs.
Learn moreMedicaid & SSI Impact
How loan proceeds can affect needs-based benefits.
Learn moreCurious whether a reverse mortgage could work for you?
Check eligibility in a few questions, or estimate how much you may be able to access. No credit pull.