Reverse Mortgage

A reverse mortgage loan is a loan for seniors age 62 and older. These particular loans are insured by the FHA. These loans work by allowing seniors 62 and older to borrow from their home’s equity without having to pay monthly mortgage payments.

There are 3 types of reverse mortgage loans:

  • Single Purpose Reverse Mortgages
  • Proprietary Reverse Mortgages
  • Home Equity Conversion Mortgages