This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA).

Do You Qualify for a Reverse Mortgage?

Here’s a quick breakdown of individual reverse mortgage loan requirements:

  • At least one borrower must be 62 years of age or older¹
  • The house must be your primary residence
  • You can have a traditional mortgage but the proceeds from the reverse mortgage must be able to extinguish that debt


Need more information about individual requirements for a reverse mortgage? Contact a HomeBridge Mortgage Loan Originator today.

Home Qualifications

If you’ve met the individual requirements for a reverse mortgage, congratulations! Before applying for a reverse mortgage, make sure you learn as much as you can about reverse mortgage benefits and qualification requirements, including what home types qualify. If you live in one of these home types, you will meet the property qualifications for a reverse mortgage:

  • Single family homes
  • Multi-family homes that contain up to four units, as long as you occupy one as your primary residence
  • FHA Approved Condominiums²
  • Manufactured homes³


Financial Qualifications

Once you meet the above qualifications and obtain a reverse mortgage loan, there are a few financial obligations you must uphold. If you don’t, you risk defaulting on the loan.

  • Continue to pay homeowner’s insurance, property taxes and HOA Association dues (if applicable)
  • Continue to maintain the home according to FHA requirements
  • Comply with all terms of the loan

Counseling Requirements

Before you can get a reverse mortgage, you’re required by the federal government to participate in mortgage counseling. Mortgage counseling helps provide everyone with the education needed to make smart choices for their financial future. A reverse mortgage can be a little intimidating for some seniors and it’s always advisable to have a family member involved in the process.

Learn More About Reverse Mortgage Loans:

What Is a Reverse Mortgage?

What Are Reverse Mortgage Benefits?

How a Reverse Mortgage Can Help Your Retirement

Understanding Reverse Mortgage Interest Rates & Fees


¹ Some states mandate that both borrowers be 62 years of age or older.

² For Condo’s not FHA approved and $500K or greater, a Jumbo Reverse Mortgage Program may be available.

³ Although mobile homes aren’t eligible, some manufactured homes are, as long as they’re approved by the U.S. Department of Housing and Urban Development (HUD), and fulfill FHA requirements.