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Reverse Mortgage
Convert home equity into cash in retirement, with no required monthly payments.
A reverse mortgage (most commonly a federally insured HECM) lets homeowners 62 and older convert part of their home equity into cash, without a required monthly mortgage payment. You still own the home and remain responsible for property taxes, insurance, and upkeep; the loan balance is repaid when you sell, move out, or pass away.
Generally a good fit if you...
- Are 62 or older with meaningful equity in your home
- Want to supplement retirement income without taking on a monthly payment
- Plan to stay in the home for the foreseeable future
General guidelines
- Age requirement: the youngest borrower on title generally must be 62 or older
- Counseling: HUD-approved counseling is required before applying, so you fully understand the terms and obligations
- Obligations: you remain responsible for property taxes, homeowners insurance, and maintenance for as long as you live there
- Repayment: the loan becomes due when the home is sold, is no longer your primary residence, or you pass away
Curious whether a reverse mortgage makes sense for your retirement plan?
Every situation is different, and these are general guidelines — the fastest way to know where you stand is a quick conversation. Send us a message or visit our team page to apply directly.