Tap Into Your Home Equity Without Monthly Payments
A reverse mortgage allows homeowners 62 and older to access home equity — without selling, moving, or making monthly mortgage payments.
Get Pre-Approved
Your equity. Your retirement.
Your terms.
No monthly paymentsNo mortgage payment required while you live in the home
Age 62 or olderAvailable to qualifying homeowners 62 and up
FHA-insured HECMThe most common and federally-backed reverse mortgage program
You retain ownershipStay in your home and keep title throughout the loan
Flexible payout optionsLump sum, line of credit, or monthly disbursement
Eliminate existing mortgageUse proceeds to pay off your current mortgage balance
Tax-free proceedsFunds received are generally not considered taxable income
Non-recourse loanYou or your heirs will never owe more than the home's value
HUD-approved counselingRequired before application — protects the borrower
Program Snapshot
Program availability, loan limits, and eligibility requirements are subject to FHA guidelines and state regulations. Contact Lendmire to confirm availability in your area.
What Is a Reverse Mortgage?
A reverse mortgage is a loan available to homeowners aged 62 or older that allows them to convert a portion of their home equity into usable funds — without selling the home, giving up ownership, or making monthly mortgage payments.
The most common type is the FHA-insured HECM (Home Equity Conversion Mortgage). Unlike a traditional mortgage where you make payments to the lender, a reverse mortgage works in the opposite direction — the lender pays you. The loan balance increases over time and is repaid when the home is sold, the borrower permanently moves out, or passes away.
While no monthly mortgage payment is required, borrowers must continue to pay property taxes, homeowners insurance, and maintain the property in good condition. Failure to meet these obligations can result in the loan becoming due.
How You Can Receive Your Funds
Reverse mortgage borrowers have flexibility in how they access their equity. Each option serves a different financial need.
Lump Sum
Receive all available funds at closing in a single payment. Best for paying off an existing mortgage, covering large expenses, or debt elimination. Fixed interest rate applies.
Line of Credit
Access funds as needed over time. Unused funds in the line of credit grow at the same rate as the loan — meaning your available credit increases the longer you wait to use it.
Monthly Disbursement
Receive fixed monthly payments for a set term or for as long as you live in the home (tenure). Provides predictable supplemental income to support retirement cash flow.
Who Qualifies & Eligible Properties
Borrower Requirements
- Age 62 or older (all borrowers on title)
- Must occupy the home as primary residence
- Sufficient equity in the property
- Must complete HUD-approved counseling
- Must meet FHA financial assessment guidelines
- Current on property taxes and insurance
Eligible Property Types
- Single-family homes
- HUD-approved condominiums
- 2–4 unit properties (one unit owner-occupied)
- Manufactured homes meeting FHA requirements
- Townhomes (where eligible)
- Must be in good condition and meet FHA standards
How a Reverse Mortgage Works
During the Loan
While you live in the home as your primary residence:
- No monthly mortgage payments required
- Loan balance grows as interest accrues
- You retain full ownership and title
- You continue paying taxes, insurance, and maintenance
- Funds can be used for any purpose
Loan Repayment
The loan becomes due when one of the following occurs:
- The home is sold
- The borrower permanently moves out
- The last borrower passes away
- The borrower fails to maintain obligations
- Heirs can repay the loan and keep the home
Why Homeowners Consider a Reverse Mortgage
Add a reliable monthly income stream during retirement without drawing down savings or investments prematurely
Pay off an existing mortgage balance and eliminate the monthly payment — freeing up significant monthly cash flow
Fund renovations, accessibility upgrades, or major repairs needed to age comfortably and safely in place
Access funds to cover medical expenses, long-term care costs, or in-home assistance as needs arise
Bridge income needs while delaying Social Security claims — maximizing lifetime benefit amounts
Maintain a growing line of credit as a financial safety net — available if and when you need it most
Lendmire complies with all federal and state mortgage regulations. Reverse mortgage eligibility is based on age, home equity, occupancy, and FHA program guidelines. HUD-approved counseling by an independent agency is required before application.
Reverse mortgages are not available in every state through Lendmire. Please contact us to confirm availability in your area. A Loan Estimate (LE) will be provided upon submission of a complete application and required documentation.
This is not a commitment to lend. Borrowers must maintain the property and remain current on property taxes and homeowners insurance. Failure to meet these obligations may result in the loan becoming due and payable. Lendmire LLC — NMLS #2371349.
News, guides &
market updates.
DSCR Loan Requirements for Cash-Out Refinance: What You Need to Qualify
March 16, 2026
DSCR Loans Mississippi: Investor Financing for Jackson, Biloxi & Gulf Coast
March 5, 2026
DSCR Loans New Hampshire: Manchester, Lake Winnipesaukee & White Mountains
March 5, 2026
DSCR Loans Oklahoma: Oklahoma City, Tulsa, Broken Bow & Norman
March 5, 2026See if a reverse mortgage
is right for you.
Speak with a Lendmire specialist to review your options. No obligation, no pressure — just clear answers.
Get Pre-Approved