Is It Right for You?

Our reverse mortgage checklist is designed to help you start asking the right questions about whether a reverse mortgage could be right for you.

A reverse mortgage may be right for you, if:

You are looking for a source of retirement income, not a safety net in case of emergency. If you do not need upfront cash, other financial options may be available to you.
You are planning to stay in your home and are not likely to move in the next few years. Reverse mortgages fit best with those who know they would like to stay in their homes. The cost of selling your home after you have obtained a reverse mortgage may offset the cash received.
All borrowers on the title to the home are 62 years of age or older. If there are two co-borrowers, both borrowers will be protected and continue to receive funds in the event that one borrower passes away.
You have equity in your home, and your property is likely worth more than $50,000. Though a reverse mortgage will work for many, the upfront costs can outweigh the cash proceeds in certain situations. If you have questions about your circumstances, one of our specialists can explain costs and fees associated with a reverse mortgage.
You feel comfortable and do not feel pressured into making financial decisions by others. Don't let others tell you how to spend your money or push you into making investments. If you have concerns, please see our page on elder abuse.

Could a reverse mortgage be right for you?