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Reverse · 62 and over

Stay in your home and let the equity work for you.

A Home Equity Conversion Mortgage pays off your current mortgage and turns the rest of your equity into a lump sum, monthly income or a growing line of credit, with no monthly mortgage payment. FHA insures it, and you keep the title.

Age62 or older
Monthly mortgage paymentNone required
PayoutLump sum, monthly, or line of credit
Insured byFHA (HECM)
See if I qualifyCall (856) 606-1070
4.4 on Google · 214 reviewsNMLS 13988Licensed in 15 states + DC
Who it's for

Is a reverse mortgage right for you?

  • Homeowners 62 and older who want to eliminate the mortgage payment
  • Retirees who need income or a safety net without selling
  • Owners who want a line of credit that grows over time
  • Anyone funding in-home care or a home modification
How it works

Three steps from here to closing.

Counseling

A HUD-approved counselor walks you through the loan first; it is required.

Application and appraisal

The financial assessment confirms you can cover taxes, insurance and upkeep.

Close

The current mortgage is paid off; you choose how to receive the rest.

What you'll need

Requirements at a glance.

  • Youngest borrower at least 62
  • Significant equity, typically 50% or more
  • Primary residence, FHA-eligible property in good repair
  • HUD counseling certificate
  • Financial assessment for taxes, insurance and maintenance
Straight talk

The upside, and what to weigh.

Why people choose it

  • No monthly principal and interest payment for as long as you live there
  • Line of credit grows over time and cannot be frozen
  • Non-recourse: heirs never owe more than the home is worth

Things to consider

  • Upfront costs, including FHA mortgage insurance, are higher than a standard refinance
  • The balance grows, reducing what passes to heirs
Common questions

Asked on almost every first call.

Will the bank own my home?

No. Title stays in your name. You must keep paying taxes and insurance and maintain the home.

How much can I get?

It depends on your age, the home's value and current rates. Older borrowers and lower rates mean more.

Can I lose the home?

Only if you fail to pay taxes and insurance, maintain the property, or stop living there as your primary residence.