mortgage & home loan refinance | vase at home

How do you qualify for a reverse mortgage?

How do you qualify for a reverse mortgage?

To qualify for a reverse mortgage, the youngest homeowner must be at least 62 years old.  The property must be owned outright or have an existing mortgage balance that can be paid off from the reverse mortgage proceeds.  On average, lenders require homeowners to own around 50% of the equity in their home or more.  There are no income or credit requirements when taking out a reverse mortgage.

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