Understand Your Options.
On Your Terms.
A reverse mortgage can help you tap into your home equity during retirement — but only if you understand how it works. We break it all down in plain language.
What Is a Reverse Mortgage?
A financial tool that lets homeowners 62+ convert part of their home equity into cash — without selling or making monthly mortgage payments.
Stay in Your Home
You retain ownership and continue living in your home. The loan isn't due until you move, sell, or pass away.
Access Your Equity
Receive funds as a lump sum, monthly payments, or line of credit. Use the money however you choose.
FHA Protection
Most reverse mortgages are FHA-insured HECMs, meaning you'll never owe more than your home is worth.
How It Works
Getting started with a reverse mortgage is simpler than you might think.
Learn & Research
Read our guides to understand how reverse mortgages work, the costs involved, and whether it's right for your situation.
Check Eligibility
You must be 62+, own your home, and have significant equity. Our eligibility guides walk you through every requirement.
Get Free Info
Request a free reverse mortgage guide from a top lender. No commitment — just the information you need to decide.
Explore by Topic
Everything you need to know, organized by what matters most to you.
Reverse Mortgage Fundamentals
What it is, how it works, who it's for, and the key differences from a traditional mortgage.
Explore basics
Do You Qualify?
Age requirements, property types, equity thresholds, and financial assessments explained.
Check eligibility
HECM, Proprietary & More
Compare FHA-insured HECMs, proprietary jumbo reverse mortgages, and single-purpose options.
Compare types
Understand the True Cost
Origination fees, closing costs, mortgage insurance premiums, interest rates, and more.
See costs breakdown
Step-by-Step Resources
From application to closing — practical guides to help you navigate every stage of the process.
Read guidesGet Your Free Guide
Answer a few quick questions and receive a personalized reverse mortgage guide from a top-rated lender.
Start nowCommon Questions
Get quick answers to the most frequently asked questions about reverse mortgages.
Yes. You retain full ownership and the title to your home. A reverse mortgage is simply a loan against your home equity — you are not selling your home to the lender. You must continue to pay property taxes, homeowner's insurance, and maintain the home.
You must be at least 62 years old to qualify for a federally insured HECM reverse mortgage. If you have a younger spouse, special rules may apply — but the older borrower must meet the age requirement.
No. HECM reverse mortgages are "non-recourse" loans, meaning you (or your heirs) will never owe more than the home's value at the time of repayment. FHA mortgage insurance covers any shortfall.
You can choose from several payment options: a lump sum, monthly payments (tenure or term), a line of credit you draw from as needed, or a combination of these. Many borrowers prefer the line of credit for its flexibility and growth feature.
The loan becomes due when the last borrower moves out of the home, sells it, or passes away. At that point, the home is typically sold and the loan balance is paid from the proceeds. Any remaining equity goes to you or your heirs.
No. ReverseReady is an independent educational resource. We are not a lender, bank, or financial advisor. We provide information to help you understand reverse mortgages and may connect you with licensed lenders through our free guide program.