A reverse mortgage is a type of loan for homeowners, usually aged 55 or older. is a loan secured against the value of your home. Unlike a regular loan or mortgage,  you are not required to make payments. You’re free to enjoy your retirement. You only repay the loan when you move or sell your home. And you maintain complete control until you decide to do so.

Reverse Mortgage Eligibility

Reverse mortgage requirements:

• You are 55+ years old
• You live in the home for at least 6 months of the year
• You keep your residence in good order
• You adhere to the loan terms which is paying your property taxes
• You can borrow up to 55% of the home equity