Reverse mortgage

A loan for homeowners 62 and older that converts home equity into cash without a monthly mortgage payment.

Photo: Adobe Stock (free collection) · Adobe Stock standard license · asset 168323237 · licensed 2026-09-06 under the Chris Does Photos account

Who it's for

Older homeowners who want to stay in their home and use its equity.

How it works

Available as a lump sum, monthly payments, a line of credit, or a combination.
The loan is repaid when the last borrower leaves the home. You remain responsible for taxes, insurance, and upkeep.
Independent HUD counseling is required before you apply.

What you'll need

Age 62 or older
Substantial equity
Ability to keep up with taxes and insurance

Common questions

Will the bank own my home?

No. Title stays in your name. The loan is a lien, like any mortgage.

By design this page shows no rates, APRs, payments, or down-payment percentages. Those figures are only published with the full disclosure block required by Regulation Z.

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