Reverse Mortgage Solutions

What Is a Reverse Mortgage?

A reverse mortgage is a federally insured loan that allows homeowners aged 62 and older to convert a portion of their home equity into cash — without selling, moving, or making monthly mortgage payments.

The most common type is the Home Equity Conversion Mortgage (HECM), insured by the Federal Housing Administration (FHA). Unlike a traditional mortgage where you make payments to a lender, a reverse mortgage pays you. The loan is repaid when the homeowner sells, moves out permanently, or passes away.

As a Retirement Income Certified Professional (RICP®), Todd Hanley brings specialized training in retirement income planning — including how reverse mortgages fit into a broader financial strategy alongside Social Security, pensions, and investment portfolios.

Key Benefits

A reverse mortgage can be a powerful financial planning tool when used strategically.

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Eliminate Monthly Mortgage Payments

Free up cash flow by eliminating your required monthly mortgage payment. You remain responsible for property taxes, insurance, and home maintenance.

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Access Home Equity Tax-Free*

Receive proceeds as a lump sum, monthly payments, or line of credit. Reverse mortgage proceeds are generally not considered taxable income. *Consult your tax advisor for your specific situation.

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Stay in Your Home

You retain ownership and the right to live in your home for as long as you meet the loan obligations — property taxes, insurance, and maintenance.

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Flexible Payout Options

Choose how you receive funds: lump sum at closing, monthly tenure or term payments, a line of credit you draw from as needed, or a combination of these.

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Growing Line of Credit

The unused portion of your HECM line of credit grows over time at a rate tied to the current interest rate — giving you access to more funds the longer you wait.

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Non-Recourse Protection

You or your heirs will never owe more than the home is worth at the time of sale. FHA insurance covers any shortfall between the loan balance and the home's value.

Who Qualifies?

Reverse mortgage eligibility is straightforward. Here are the basic requirements for a HECM loan.

✓ Age 62 or older — at least one borrower must be 62+. A non-borrowing spouse may be as young as 18 under certain protections.
✓ Own your home or have significant equity — typically 50% or more. Existing mortgage balances are paid off at closing with reverse mortgage proceeds.
✓ Primary residence — the home must be your principal residence. Eligible property types include single-family homes, 2-4 unit properties (owner-occupied), FHA-approved condos, and some manufactured homes.
✓ Complete HUD-approved counseling — all borrowers must attend a counseling session with a HUD-approved counselor before the loan can proceed. This is a consumer protection requirement.
✓ Financial assessment — lenders evaluate your ability to maintain property taxes, homeowner's insurance, and any HOA fees. A financial assessment is part of the process.

See What You May Qualify For

Use the reverse mortgage calculator to get an estimate of your potential proceeds based on your age, home value, and current rates.

Open Reverse Mortgage Calculator

Frequently Asked Questions

Yes. You retain full ownership and the title remains in your name. A reverse mortgage is simply a lien against the property, just like a traditional mortgage. You can sell or refinance at any time.

The loan becomes due when the last borrower (or eligible non-borrowing spouse) permanently moves out, sells the home, or passes away. At that point, the home is typically sold to repay the balance. Heirs may also choose to keep the home by paying off the loan balance or 95% of the appraised value, whichever is less.

HECM loans are non-recourse, meaning you (or your heirs) will never owe more than the home is worth at the time of sale. FHA mortgage insurance covers any shortfall. This is one of the strongest consumer protections built into the program.

Yes. The HECM for Purchase program allows buyers aged 62+ to purchase a new primary residence using reverse mortgage financing. You make a larger down payment and have no required monthly mortgage payments going forward. This is a powerful option for rightsizing in retirement.

Yes. For homes valued above the FHA lending limit, proprietary reverse mortgages allow access to more equity. These are not FHA-insured but can provide significantly higher proceeds for high-value properties. We work with multiple investors to find the best fit for your situation.

What Is a Reverse Mortgage?

Key Benefits

Eliminate Monthly Mortgage Payments

Access Home Equity Tax-Free*

Stay in Your Home

Flexible Payout Options

Growing Line of Credit

Non-Recourse Protection

Who Qualifies?

See What You May Qualify For

Frequently Asked Questions

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