Your home needs to be in good shape to qualify for a reverse mortgage. If it doesn’t meet certain property standards, the mortgage lender may require that certain repairs be made before ...

Commissions do not affect our editors' opinions or evaluations. A reverse mortgage is a loan that allows homeowners, typically those age 62 or older, to cash in on part of their home’s equity ...

I overheard a friend talk about how happy she was getting approved for a reverse mortgage and was intrigued,” Marie tells ...

You may not qualify for a reverse mortgage if you have bad credit, lack sufficient income, do not meet the age requirements or have missed tax or insurance payments. Many seniors use a reverse ...

With a HECM, a borrower can access a portion of their equity with no monthly mortgage payment, until they sell their home or ...

Learn More: Reverse Mortgage vs. Selling Your Home Can I hire my own appraiser? When you apply for a reverse mortgage, the lender will arrange for a professional appraisal. You are free to hire ...

Over the years, reverse mortgages have helped hundreds of thousands of older homeowners improve their financial flexibility ...

Attend a mandatory counseling session. Before you can apply, you’re required to meet with a HUD-approved reverse mortgage counselor to confirm you understand your options, responsibilities and ...

(See our methodology for more information on how we made our choices.) Easiest mortgages to qualify for Best for low down payment: Rocket Mortgage Best for non-QM loans: Guild Mortgage Best for ...

Traditional mortgage requirements can feel daunting in retirement. Discover two alternative methods lenders use to qualify retirees for home loans and ensure a smooth buying process. As a ...

There's no perfect time to buy a house, but you may want to lock in a property and refinance later if home prices are quickly ...

Additionally, many lenders offer their own unique programs, like specialty first-time homebuyer loans, that help those who might not otherwise qualify for a mortgage. Comparing fixed-rate vs.