Keep ongoing responsibilities in view.
Borrowers must meet obligations such as property taxes, insurance, maintenance, and applicable occupancy requirements. Failure to meet loan terms can lead to the loan becoming due and possible foreclosure.
Reverse Mortgage Guidance
Understand the choices.
Protect the bigger picture.
Take time to review how a reverse mortgage works, its costs, and its effect on your household and future plans.
Talk about Reverse mortgages ↗Review the exit as carefully as the start.
Discuss when repayment is required, what happens after moving or death, and the implications for a spouse or heirs. Ask about required counseling and compare alternatives before committing.
A USEFUL FIRST CONVERSATION
Bring your questions.
We’ll start with what matters to you and explain the next step.
Helpful topics to have ready
- Your goals for staying in or leaving the home
- Questions about taxes, insurance, maintenance, and ongoing expenses
- People you would like involved in understanding the decision
Keep sensitive documents for an approved secure application channel.
Your questions, answered.
Is a reverse mortgage free money?
No. It is a loan secured by your home, with interest, fees, and obligations. Review the loan balance and repayment conditions carefully.
Do all reverse mortgage products work the same way?
No. HECM and proprietary products have different rules. Eligibility, counseling, protections, and terms need a product-specific review.
Learn more: CFPB: reverse mortgages
Let’s work through the details.
A conversation comes before choosing a loan.