If you are 62 or older and own your home, a reverse mortgage could be a smart way to access your home’s equity without selling or making monthly mortgage payments. With a reverse mortgage, you can turn a portion of your equity into tax-free cash—whether you want a lump sum, monthly payments, or a line of credit.

You won’t need to repay the loan until you move out, sell the home, or pass away. Over time, interest and fees are added to your loan balance, but here’s the good news: reverse mortgages are non-recourse loans, meaning you (or your heirs) will never owe more than the home is worth.

To qualify, you must live in the home as your primary residence, have enough equity, and meet basic financial and credit guidelines. It’s a powerful option to help supplement retirement income, cover medical costs, or simply enjoy more financial freedom.

Benefits of a Reverse Mortgage: 

No Monthly Mortgage Payments
With a reverse mortgage, you can access a portion of your home equity without the burden of monthly mortgage payments.

Flexible Payout Options
Choose how you’d like to receive your reverse mortgage funds, whether as a lump sum, monthly payments, or a line of credit. This flexibility allows you to tailor the loan to your unique lifestyle and financial goals.

Stay in Your Home
One of the biggest advantages of a reverse mortgage is that you can continue living in your home. As long as it remains your primary residence and you meet the loan terms, you keep full ownership!

Financial Flexibility
Use your funds however you need—cover medical bills, make home improvements, or supplement your retirement income. A reverse mortgage offers added peace of mind when other financial options are limited.