Reverse Mortgage
Allows homeowners age 62 and older to convert home equity into cash, providing financial flexibility without monthly mortgage payments.
Reverse Mortgage Features
Age 62+
Available to homeowners age 62 and older who live in the home as their primary residence.
No Monthly Mortgage Payments
No required monthly principal and interest payments; you remain responsible for taxes, insurance and maintenance.
Flexible Payout Options
Receive funds as a lump sum, monthly payments, a line of credit or a combination.
FHA-Insured HECM
Home Equity Conversion Mortgages are insured by the FHA.
Reverse Mortgage Benefits
- 01
Supplement Retirement Income
Use your equity to support everyday expenses or other goals.
- 02
Stay in Your Home
Continue living in your home as long as you meet the loan terms.
- 03
Non-Recourse Protection
You or your heirs generally won't owe more than the home's value when the loan is repaid.
- 04
Required Counseling
HUD-approved counseling helps you make an informed decision.
Loan Program Frequently Asked Questions
Who qualifies for a reverse mortgage?
Homeowners 62 or older with significant home equity who occupy the home as their primary residence and complete HUD-approved counseling.
Do I still own my home?
Yes. You keep title to your home and must continue paying property taxes, insurance and upkeep.
When is the loan repaid?
Generally when the last borrower sells, moves out permanently or passes away.
What happens to my heirs?
Heirs can repay the loan to keep the home or sell it; they typically won't owe more than the home's value.