Reverse Mortgage Eligibility
Who is eligible for a Reverse Mortgage?
- Homeowner(s) who are at least 62 years of age and occupy the property as their principal residence.
- Eligible properties include single-family homes, condominiums, town-homes, and 2- to 4-unit dwellings.
- The home must be owned free and clear or have a small remaining balance that can be paid off with the Reverse Mortgage.
- No income, employment, or credit requirements are apply*
* Reverse Mortgage borrowers are required to obtain an eligibility certificate by receiving free counseling sessions with a HUD-approved agency. Family members are also strongly encouraged to participate in these informative sessions.
