How Reverse Mortgages Can Help Retired Homeowners or Buyers

Blog posted On May 05, 2022

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You’ve spent years investing into your home and now it’s time to reap the rewards of your hard-earned equity. As you get older, you might be thinking about buying a home that better suits your lifestyle. But you also are probably thinking about your retirement funds. 

What is a reverse mortgage?

A reverse mortgage is an FHA-insured loan that can help you or a family member convert a portion of your home equity into tax-free cash.

Reverse mortgage benefits

  • Eliminate monthly mortgage payments
  • Plan for unexpected expenses/ medical bills by maintaining a line of credit that grows over time
  • Increase your cash flow by getting a monthly payment for life
  • Have a better alternative to cash reserves (home loans are not taxable income)
  • Gain a tax management tool that can help you qualify for deductions
  • Leave your legacy to heirs


  • Must be at least 62 years old
  • Home must be a primary residence
  • Must own home outright or have significant equity
  • Must be a single-family home, 2-4-unit dwelling or FHA-approved condo
  • Must receive reverse mortgage counseling

Let’s explore options that can help you retire with MORE.