Reverse Mortgage

Turn equity into income for homeowners 62+

How a Reverse Mortgage Works

A reverse mortgage (usually an FHA-insured HECM) lets homeowners 62 and older convert part of their home equity into cash — as a lump sum, monthly payments, or a line of credit — without making monthly mortgage payments. The loan is repaid when the home is sold or the last borrower leaves. You keep the title and must stay current on taxes and insurance.

No monthly payment

You receive funds instead of paying a mortgage each month.

Several payout options

Lump sum, monthly income, a line of credit, or a combination.

You keep the title

You remain the owner; the loan is repaid from the home later.

Know the trade-offs

It reduces the equity your heirs inherit — best considered carefully.

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