What are the Initial Eligibility Requirements for Reverse Mortgages?

River in the Smoky MountainsThe initial eligibility requirements are quite simple.

  • Homeowners must be 62 years of age or older and occupy the property as their primary residence
  • The property may be a Single family or a 2-4 Unit property, Townhome, or FHA-approved Condominium
  • The home must meet minimum FHA property standards
  • Borrower cannot be delinquent on any federal debt
  • Completion of HECM counseling

http://www.boetennessee.com  Call Me, Debbie Scarantino at 844-205-1172 or email me at dscarantino@boemortgage.com.

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