Reverse Mortgage
A loan against your home's equity, with no required monthly payments — for the right situation, for homeowners 62 and older.
Overview
A reverse mortgage (formally a Home Equity Conversion Mortgage or HECM) is a real loan, not a giveaway: it lets homeowners aged 62+ borrow against their home equity without making monthly mortgage payments, but interest still accrues, you're still responsible for property taxes and insurance, and the balance comes due when you sell, move out, or pass away. It's not the right fit for everyone. For the right situation — supplementing retirement income, paying off an existing mortgage payment, or funding aging-in-place work — it can be a genuinely useful tool. HUD-approved counseling is required before you apply, and we'll walk you through the honest tradeoffs, not just the upside.
Who It's For
How It Works
Education & Counseling
We explain how reverse mortgages work honestly — pros AND cons. HUD-approved counseling is required before application.
Application & Appraisal
We determine how much you can access based on age, home value, and current interest rates.
Underwriting
Financial assessment ensures you can maintain the home, pay taxes, and maintain insurance.
Close & Access Funds
Choose your payout option and start accessing your equity — with no monthly payment due.
Requirements
These are general guidelines, not a quote or commitment to lend. Actual terms depend on credit approval, income, and underwriting — not all applicants will qualify, and programs and requirements are subject to change without notice. Through Movement Mortgage we have access to additional programs with different requirements. Contact David & Bri for options specific to your situation.
Pros & Cons
Advantages
Considerations
Calculator
Quick estimate
Estimate your monthly payment
Estimated monthly payment
$3,490
30-year fixed at 6.875%
FAQ
4 questions
How does a reverse mortgage work?
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Instead of you paying the bank each month, the bank pays you — either as a lump sum, monthly payments, or a credit line. The loan balance (plus interest) is repaid when you sell, move out, or pass away. You retain ownership of the home the entire time.
Will I lose my home with a reverse mortgage?
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No. You retain full ownership. The loan becomes due only when you sell, move out permanently, or pass away. Your heirs can choose to repay the loan and keep the home, or sell it.
How much can I get from a reverse mortgage?
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It depends on your age, home value, and current interest rates. Generally, older borrowers with more equity and lower rates can access more. Our calculator can give you an estimate.
Are reverse mortgage proceeds taxable?
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No. Reverse mortgage funds are loan proceeds, not income, so they're not subject to income tax. They also don't affect Social Security benefits (though they may affect Medicaid — consult a financial advisor).
Ready to explore reverse?
Schedule a complimentary consultation. We'll review your situation and tell you honestly whether this is the right move.