Expert Guidance for Women 62+
Strategic Reverse Mortgage Approaches for Your Retirement
Learn how to leverage your home equity confidently. Written by Certified Reverse Mortgage Professionals with decades of combined expertise.
Learn how to leverage your home equity confidently. Written by Certified Reverse Mortgage Professionals with decades of combined expertise.
Combined experience in reverse mortgage lending and retirement planning
NMLS Certified Reverse Mortgage Professionals with extensive credentials
Founded and written by women, for women approaching retirement
Recommended by financial advisors and published authors
Comprehensive guide covering everything women need to know about reverse mortgages as a strategic retirement tool.
Written by two Certified Reverse Mortgage Professionals dedicated to educating women about this powerful retirement tool.
A reverse mortgage is a loan available to homeowners age 62 and older that allows you to convert a portion of your home equity into cash. Unlike a traditional mortgage, you don't make monthly payments. Instead, the loan is repaid when you sell the home, move out, or pass away.
The amount you can borrow depends on several factors: your age, the value of your home, current interest rates, and the specific reverse mortgage program. Generally, the older you are and the more equity you have, the more you can borrow. A HECM (Home Equity Conversion Mortgage) calculator can help estimate your available amount.
Reverse mortgages typically include origination fees, appraisal fees, title insurance, and mortgage insurance. These costs can be rolled into the loan balance. It's important to compare quotes from multiple lenders and understand all fees before proceeding.
Yes, you retain ownership of your home. You remain responsible for property taxes, insurance, and maintenance. A reverse mortgage doesn't change your ownership—it's a loan against your home's equity.
Yes. When you pass away, your heirs can either repay the reverse mortgage loan to keep the home or sell the home to pay off the loan. Any remaining equity goes to your heirs.
Reverse mortgage funds generally do not affect Social Security benefits. However, they may affect Medicaid and SSI benefits if you hold more than the resource limit. Consult a financial advisor to understand how it applies to your specific situation.
Explore these trusted resources for additional information and calculations:
Whether you're exploring reverse mortgages or ready to move forward, we're here to help with expert guidance tailored to your situation.