To qualify for a reverse mortgage you must:

  1. Be age 62 or older;
  2. Own your home;
  3. Your home must be your principal residence and it must meet basic U.S. Department of Housing and Urban Development (HUD) repair standards;
  4. 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.