Mortgage for retirees
Age 62+? Review ways to use your home equity
A qualifying reverse mortgage typically has no required monthly principal-and-interest payment, but interest and fees increase the balance. The homeowner must occupy the home as a principal residence, pay property taxes and insurance on time, and maintain the property.
01Compare a reverse mortgage with alternatives without pressure.
02Review costs, remaining equity and repayment conditions.
03Check eligibility, principal-residence rules and homeowner obligations.
How it works
Let your home work for you
Alternatives firstCompare a reverse mortgage with refinancing, selling, downsizing and other options.
Individual calculationAvailable proceeds depend on age, home value, current debt, rates and the program.
Responsibilities remainProperty taxes, homeowners insurance, home maintenance and principal occupancy remain the homeowner’s responsibilities.
Understand the debtThe balance grows with proceeds, interest and fees; repayment is generally due after a sale, move or the death of the last borrower.
Free consultation
Find out how much cash is available from your home
Leave your details — the initial discussion is free and carries no obligation. A credit check may occur only at a later stage and with your authorization.
A preliminary financial-profile review
Comparison of available mortgage programs
An estimated complete monthly payment