Key Features
- No monthly payments required
- Access home equity
- Stay in your home
- FHA-insured HECM available
- Non-recourse loan
Requirements
- 62 or older
- Significant equity required
- HUD counseling mandatory
- Must maintain home and pay taxes/insurance
For homeowners 62 and older, reverse mortgages allow you to access your home equity without monthly payments. Stay in your home while receiving funds as a lump sum, line of credit, or monthly payments.
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