The 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.
If you will complete our form I will happily be in touch with you to see if we can help.
All loans are subject to credit approval including credit worthiness, insurability, and ability to provide acceptable collateral. Not all loans or products are available in all states or counties. A reverse mortgage is a loan that must be repaid when the home is no longer the primary residence, is sold, or if the property taxes or insurance are not paid. This loan is not a government benefit. Borrower(s) must be 62 or older. The home must be maintained to meet FHA Standards, and you must continue to pay property taxes, insurance and property related fees or you will lose your home.