WHO QUALIFIES FOR A REVERSE MORTGAGE?
- All applicants must be 62 years of age or older.
- If you have Single Family Detached, 1-4 Units, Condominiums, and Town Homes.
- Condominiums that are HUD certified.
- You must occupy the home as your primary residence.
- Credit history is now a factor in the approval process with new standards for financial responsibility.
- There are no income requirements.
- You can have a mortgage on your home and still apply for a Reverse Mortgage.