A loan for homeowners 55+ that lets you access home equity without selling or making monthly payments.
Yes, you remain the legal owner and stay on title.
Typically when you sell the home, move out permanently, or pass away.
Based on your age, home value, location, and lender guidelines its usually up to 55% of your home’s value.
No regular payments are required; interest accrues over time and is repaid when the home is sold.
Most lenders offer a No Negative Equity Guarantee, ensuring you never owe more than the home's value.
Anything you wish: supplementing retirement income, paying off debt, travel, renovations, or helping family.
Yes, funds from a reverse mortgage are not considered taxable income.
No, qualification is based primarily on age and home equity, not credit or income.
Yes, but early repayment may come with a prepayment charge depending on the lender and timing.