How a Reverse Mortgage Works

Watch the Two-Minute Overview

The Basics

Do You Qualify?

As Young as 55

Proprietary reverse mortgage programs I offer can start at age 55. The FHA-insured HECM requires at least one borrower 62 or older. Younger spouses can often be protected as eligible non-borrowing spouses.

Primary Residence

The home must be where you live most of the year. Single-family homes, FHA-approved condos, and 2-4 unit properties can qualify.

Equity in the Home

You don’t need to own your home free and clear. Many of my clients use a reverse mortgage to pay off their existing mortgage.

Flexible by Design

How a Reverse Mortgage May Help

Imagine no monthly mortgage payment and access to cash. Here are the three ways you can receive your money.

1 Free Consultation

We talk through your goals, your home, and your numbers. You’ll leave with a clear picture of what a reverse mortgage could look like for you, and whether it makes sense at all.

2 Independent HUD Counseling

Before you can apply, you’ll complete a session with an independent, HUD-approved counselor. It’s a consumer protection built into the program, and I’ll help you get it scheduled.

3 Application

We complete your application together. I handle the paperwork and keep everything moving.

4 Appraisal

An independent appraiser determines your home’s value, which helps set the amount you can access.

5 Underwriting & Approval

The lender reviews everything and issues final approval. I stay on top of it so you’re never left wondering where things stand.

6 Closing & Funding

You sign your final documents and receive your funds in the way you chose: lump sum, line of credit, monthly payments, or a combination.

Flexible by Design

How a Reverse Mortgage May Help

Imagine no monthly mortgage payment and access to cash. Here are the three ways you can receive your money.

"The bank takes my home."

No. You keep the title to your home, just like with a traditional mortgage. You remain the owner as long as you live there and keep up with property taxes, insurance, and maintenance.

"My kids will inherit my debt."

A reverse mortgage is a non-recourse loan. Your heirs will never owe more than the home is worth. They can keep the home by paying off the loan balance, or sell it and keep any remaining equity.

"I could get forced out of my home."

As long as you live in the home as your primary residence and keep up with property taxes, homeowners insurance, and upkeep, the loan is not due. You cannot be forced out simply because of the reverse mortgage.

"Reverse mortgages are a last resort."

Many financial planners now view the reverse mortgage line of credit as a retirement planning tool, a standby resource that can grow over time and protect your other assets.

Find Out What Your Home Can Do for You

Your consultation is free, and there is never any obligation. Let’s look at your numbers together.