Persons 62 years of age or older who own their home as their primary residence. No FICO score required.
Manufactured homes not meeting FHA standards, co-ops, and investment properties.
Typical costs include FHA insurance, origination fees, appraisal, and closing costs.
When the borrower sells, moves out permanently, or passes away.
Yes — the reverse mortgage pays off your existing loan first.
Lump sum, line of credit, monthly installments, or a combination.
Yes — you retain full ownership and title.