Reverse Mortgages for Seniors 60+

A Reverse Mortgage is a special non-recourse loan that enables homeowners age 60 or older to convert a portion of their home equity into cash.

  • Never a monthly mortgage payment to make
  • No income, no credit and no health qualifications
  • Stay in your home for life

The cash from a reverse mortgage can be paid to you in several ways:

  • all at once, in a single lump sum of cash
  • as a regular monthly cash advance
    • as a "credit line" account that lets you decide when and how much of your available cash is paid to you; or
  • as a combination of these payment methods.

No matter how this loan is paid out to you, you typically don't have to pay anything back until you permanently move out of your home, sell your home, or pass. To be eligible for most reverse mortgages, you must own your home and be 60 years of age or older.

When the borrower finally sells the home or moves, they must repay the money borrowed plus the accrued interest and fees. But the lender is not permitted to collect more than the appraised value of the house at the time the loan is repaid, even if the loan exceeds that amount (it's known as a "non-recourse" loan).

The most widely available product is the federally insured FHA Home Equity Conversion Mortgage (or HECM). Under this program, the Federal Housing Authority provides insurance for reverse mortgages placed through private financial institutions.

Over the years, a few private companies have offered their own reverse mortgage products, but these have been more costly and and intended for lesser value homes.

Reverse Mortgage loans can be quite helpful in meeting the financial goals and needs of Senior Americans. To learn more about these beneficial products, enter your information below:



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Thank You for your interest in a Reverse Mortgage! I will be contacting you shortly with detailed information for you about your financial options. ~Wes