What are the Initial Eligibility Requirements for Reverse Mortgages?

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 […]

How Much Money Can One Borrow in a Reverse Mortgage?

In general, the more your home is worth, the older you are, and the lower the interest rate, the more you will be able to borrow. The maximum amount that can be borrowed on a particular loan program is based on these factors: * The age of the youngest borrower at the time of the […]