Reverse Mortgage Property Qualify

To qualify for a senior citizen reverse mortgage, the property must be an owner-occupied, single-family house, condominium or manufactured house on an owned lot. Ineligible properties include vacation, second and rental houses, co-op apartments, houseboats, mobile homes, commercial properties and farms (unless the residence is on a separate lot).

Reverse mortgages must be recorded as a first mortgage. Any existing mortgage or home equity loan must be paid off, usually with a lump sum advance from the reverse mortgage if the encumbrances are not substantial.

Fill out our online free quote form to get a reverse mortgage comparison and estimate. You can also call toll free at 1-888-973-8377 to speak with a reverse mortgage specialist.