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Reverse Mortgage Eligibility

All reverse mortgage borrowers must be 62 and older
Must own property and occupy as primary residence
Participate in an information counseling session
Must have sufficient equity in the property
Property must meet FHA property standards
Must maintain home with needed repairs, property taxes and insurance

Loan Amount Based On

Age of youngest borrower
Current interest rate
Lesser of appraised value or the FHA insurance limit

Reverse Mortgage Links and Resources

Find HUD approved HECM counselors

Center for Retirement Research at Boston College

FHA Lending Limits

FHA's Office of Housing "Reading Room"

FHA's Reverse Mortgage Web Page

FHA's Appraisal Resource Page

HECM Resources (Funded by HUD and the AARP Foundation's Reverse Mortgage Education Project)

National Aging in Place Council

Office of Personnel Management (Link to state government programs for seniors)

Senate Special Committee on Aging

Quick quote for reverse mortgages in California

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California reverse mortgage scenario examples

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