To qualify for a reverse mortgage you must:
- Be age 62 or older;
- Own your home;
- Your home must be your principal residence and it must meet basic U.S. Department of Housing and Urban Development (HUD) repair standards;
- HUD requires all prospective reverse mortgage borrowers to participate in reverse mortgage counseling to discuss the cost and features of these loans. Click here to find a HUD-Approved counselor near you.