Reverse Mortgages: A Plain-English Overview
Everything a homeowner 60+ (or an adult child helping out) needs to understand the basics: what it is, how it works, what it costs, and where the catches are.
What Is a Reverse Mortgage
A loan against your home equity that doesn't require monthly payments — you repay it when you sell, move, or pass away.
Read moreHow It Works
The mechanics of how funds move, how the balance grows, and what triggers repayment.
Read moreHow Much Can You Get
What determines your principal limit — age, home value, rates, and the FHA lending limit.
Read morePayout Options
Lump sum, line of credit, monthly tenure, term, or a combination — and how to choose.
Read moreRequirements
Age, occupancy, property, and financial requirements to qualify.
Read moreInterest Rates
Fixed vs. adjustable, how rates affect the principal limit, and what to compare across lenders.
Read moreThe Process & Timeline
From first call to closing — typically 30 to 45 days, step by step.
Read moreRequired Counseling
What HUD-approved counseling covers, what it costs, and how to find an agency.
Read moreFrequently asked questions
If you're brand new, start with How It Works. If you already know the basics, jump to Costs & Fees or the calculator.
Curious what you might qualify for?
Get a free, no-obligation estimate. Takes about two minutes — no credit pull required.