Reverse Mortgages

Turn your home's equity into your financial freedom—enjoy your golden years with peace of mind.

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What is a Reverse Mortgage?

A reverse mortgage, or Home Equity Conversion Mortgage (HECM), is a type of home loan available to homeowners 62 or older who have considerable equity (usually at least 50%) in their home. This financial tool can benefit people who need additional cash flow for other expenses, as the value of their home’s equity can be converted to cash, eliminating monthly mortgage payments. Borrowers use the equity in their home as security for the loan, and can receive funds as monthly payments, a line of credit, or in a lump sum. This is called a “reverse” mortgage, because in contrast to a traditional mortgage, the lender makes the payments to the borrower.

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Reverse Mortgage Requirements

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Age Minimum of 62

You must be at least 62 to qualify for a reverse mortgage.

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Only for Primary Residence

You can only get a reverse mortgage on your primary residence, not a second residence or vacation home.

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Good Financial Standing

You can't owe federal debt, such as student loans or income tax.


Your Spouse May Be Able to Remain in the Home

If you pass away, your non-paying spouse might be able to stay in your home instead of selling, this can bring you peace of mind later in life.

Reverse Mortgage Are Immune to Devaluation

If you take out an HECM, you don't have to worry about declining home values.

You Can Stay in Your Home

If you’re struggling to pay your mortgage or other bills, a reverse mortgage will eliminate your monthly mortgage payment and provide you with an extra income stream. This might provide enough financial relief to afford staying in your home.

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