Loan Program
Reverse Mortgage
Access equity for eligible homeowners age 62 and older.
Who this program may fit
Homeowners who are at least 62 and want to access equity without monthly mortgage payments (subject to program terms).
Common uses
- Supplement retirement income
- Pay off existing mortgage
- Home improvements or medical expenses
Key considerations
- Borrowers must be at least 62 and complete HUD-approved counseling
- No monthly mortgage payment required, but taxes, insurance, and maintenance remain the borrower's responsibility
- The loan is repaid when the home is sold, no longer the primary residence, or upon passing
- Subject to program guidelines and property requirements
Documents commonly requested
- Counseling certificate (HUD-approved)
- Income and asset documentation
- Property documentation
The process
- 1Attend HUD-approved counseling
- 2Compare reverse mortgage options
- 3Complete a secure application
- 4Underwriting and property review
- 5Clear to close and closing
Frequently asked questions
Ready to compare your options?
Schedule a strategy call tailored to your goals, income, and timeline.
This is not a commitment to lend. All loans are subject to credit approval, property approval, program guidelines, and applicable terms. Programs, rates, terms, and conditions are subject to change without notice. Not all applicants will qualify. Equal Housing Opportunity.
Angel Taipale, NMLS #1736690 — Bright Horizon Lending Inc., NMLS #2565670. Verify on NMLS Consumer Access