Equity Elite Reverse Mortgage

Discover Greater Financial Freedom with Equity Elite®

Whether you're already in or approaching retirement, you may be considering a home equity loan to help you manage debt and safeguard your financial security as you transition into the next phase of your life.
However, most conventional financing options are not tailored to the needs of older homeowners today or their goals for the future.

But with our revolutionary reverse equity loan—Equity Elite®—you can get the funds you need to gain more financial stability now and in retirement.

Now with the minimum age reverse mortgage requirement as young as 55 in select states,* Equity Elite® can help you create a financial roadmap for your future starting with today.

Get started today with your free quote to learn how Equity Elite® can help you create a roadmap to safeguard your financial stability. 



Get Your Free Quote Here

By clicking "CALCULATE ELIGIBILITY", you are providing your signature and express "written" consent to be contacted by or behalf of Reverse Mortgage Funding LLC, its affiliates and/or its agents (collectively Company) at the telephone, email or mailing address that you have provided for purposes of fulfilling this inquiry about reverse mortgages and/or the Company's products or services, even if you have previously registered on a "do not call" government registry or requested Company to not send marketing information to you by email and/or direct mail. You agree that the Company may use automatic telephone dialing systems and prerecorded voice messaging in connection with calls or texts made to the telephone number you provide even if the telephone number is assigned to a cellular or mobile telephone service or other service for which the called party is charged and are representing that you are the regular user of provided number. You understand that you are not required to consent to receiving autodialed calls or texts as a condition of any reverse mortgage and/or purchasing any Company products or services. If you do not wish to authorize Company to contact you in this manner, you can call 888-277-1567 to complete your request. You understand that you can revoke this consent at any time.

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Equity Elite® Has Some Powerful Advantages Over Conventional Home Equity Loans:

  • Available to borrowers age 55+ in select states. Higher minimum age requirements may apply*
  • Higher home values can access more home equity with loan amounts up to $4 million
  • Eliminate or substantially lower your current monthly mortgage payment
  • For owners and buyers of approved and non-FHA-approved homes in age-restricted communities
  • Lower closing costs with no up-front or ongoing mortgage insurance premiums
  • Flexible proceed options—lump sum, term payments, and line of credit with growth||
As with any mortgage, you must meet your borrower obligations throughout the life of the loan, including keeping current with property taxes, insurance, and maintenance.

Keep Your Home. Lose Your Mortgage Payment.


Eliminate monthly mortgage payments


Consolidate high-interest debt


Establish a standby
line of credit


Access income-tax-
free§ cash


As with any mortgage, you must meet your borrower obligations throughout the life of the loan, including keeping current with property taxes, insurance, and maintenance.

What Our Customers Have to Say

Source: RMF Customer Satisfaction Survey 2021
Source: LendingTree and Trustpilot Ratings and Reviews, as of August 2021

How Does Equity Elite® Work?


An Equity Elite® reverse equity loan is a powerful financial tool that allows you to turn some of the equity in your home into funds you can use as you choose. Like a traditional mortgage, a reverse mortgage is a home-secured loan; but unlike a traditional mortgage, it is specifically designed for older homeowners. 

The minimum age requirement for the Equity Elite® product is as young as 55 in select states. Higher minimum age requirements may apply.*

The process to obtain an Equity Elite® reverse mortgage is simple, but it’s helpful to know what you can expect. Here’s a reverse mortgage roadmap to help you along the way.



The road to your reverse mortgage starts with education. You may have heard a lot from friends and family or even from television about what reverse mortgages are, but it's important to weigh all the pros and cons for yourself. An experienced loan specialist like the professionals at Reverse Mortgage Funding LLC (RMF) can provide you with the information you need to help you decide if a reverse mortgage solution is the right choice for you.



If you decide to move forward, you'll choose a lender and submit your application to them. The application includes some personal information, and a financial assessment will be conducted to make sure you'll be able to afford ongoing expenses like property taxes, insurance, and home maintenance.

You'll meet with an independent reverse mortgage counselor who's approved by the U.S. Department of Housing and Urban Development (HUD), to make sure you understand all aspects of the loan.



Your home will be appraised by an independent appraiser, to determine the value. Then the appraisal and loan package will be sent to an underwriter for review and approval. The underwriter will make sure all the information in the package is correct, complete, and compliant with all applicable laws and regulations.



After your loan application is approved, you will sign your closing documents with a title officer or attorney (depending on your state's requirements).



Three days after closing, the loan funds are disbursed and you can access them according to the payment plan you selected. Your loan funds will first be used to pay off any existing mortgage on your home, a new lien (the reverse mortgage) is placed on the home, and you can use the remaining funds from your reverse mortgage however you choose.

PROS of an Equity Elite® Reverse Mortgage

  • Since there is no mortgage insurance premium, Equity Elite® has lower up-front costs than a traditional reverse mortgage.
  • You can potentially access even more home equity—the maximum loan amount is up to $4 million.
  • Unlike traditional reverse mortgages, it’s available to owners and buyers of non-FHA-approved condos
  • It’s a reverse equity loan that can help make it easier for homeowners and homebuyers age 55* and older to live a more comfortable retirement.
  • You continue to live in your home and retain the title to it. As with any mortgage, you must meet your loan obligations, keep current with property taxes, insurance, and maintenance. 
  • The funds from your reverse mortgage loan can be used to pay off the existing mortgage on your home. While there will still be a lien on your home for the outstanding amount of the reverse mortgage, you are not required to make monthly principal and interest payments on the reverse mortgage, so you will be freed from the monthly mortgage payment expense. As with any mortgage, you must meet your loan obligations, keep current with property taxes, insurance, and maintenance. 
  • No monthly mortgage payments are required for as long as you live in the home and continue to meet your obligations to pay your property taxes and homeowners insurance and maintain the property. As with any mortgage, you must meet your loan obligations, keep current with property taxes, insurance, and maintenance.  
  • Loan proceeds are generally not considered taxable income. (Not tax advice. Consult a tax professional.)
  • Generally, a reverse mortgage loan will not affect Social Security or Medicare benefits. However, you may wish to consult a financial professional to determine the potential financial implications of obtaining a reverse mortgage loan. The funds from a reverse mortgage generally do not affect regular Social Security. However, needs-based benefits, such as Supplemental Security Income (SSI), may be impacted. Consult a financial professional or government benefits specialist about your particular situation. Visit www.ssa.gov.
  • A reverse mortgage loan is a non-recourse loan. This means that neither you nor your heirs are personally liable for any amount of the mortgage that exceeds the value of your home when the loan is repaid.
  • If your home increases in value in the future, you may consider refinancing your reverse mortgage to access even more loan proceeds.
  • After the loan is repaid, any remaining equity belongs to you or your heirs.

Get Your Free No-Obligation Quote

If you're a homeowner who's at least 55* years old, with equity in your home,
you may be eligible for the flexible benefits of a reverse mortgage.

Check Eligibility

CONS of an Equity Elite® Reverse Mortgage

  • The loan balance increases over time as interest on the loan and fees accumulate.
  • As home equity is used, fewer assets are available to leave to your heirs. You can still leave the home to your heirs, but they will have to repay the loan balance. Usually, the loan is paid off by selling the home. However, this can be done using other funds or by refinancing through a traditional mortgage.
  • Fees may be higher than with a traditional mortgage. (Ask us about our lower-cost options.)
  • Eligibility for needs-based government programs, such as Medicaid or Supplemental Security Income (SSI), may be affected. Consult a benefits specialist.
  • A reverse mortgage loan becomes due and must be repaid when a “maturity event” occurs, such as the last surviving borrower (or, in the case of a HECM, non-borrowing spouse meeting certain conditions) passes away, the home is no longer the borrower’s principal residence. The loan will also become due if the homeowner fails to meet other loan obligations, which include paying their property taxes, insurance, and maintaining the property.


  • The reverse mortgage age minimum for all borrowers on the home’s title must be at least 55* years old. Higher minimum age requirements may apply depending on the state. 
  • You must live in your home as your primary residence for the life of the reverse mortgage. Vacation homes or rental properties are not eligible.
  • You must own your home outright or have at least 50% equity in your home. Even if you owe some money on your existing mortgage, you may be eligible for an Equity Elite® reverse mortgage. The funds from the reverse mortgage would first pay off your mortgage and satisfy any other eligible existing liens before you could use the funds for other things. Refinancing existing debt(s) with a reverse mortgage can help improve monthly cash flow and gain more access to your home equity. 
  • You must meet with an approved Equity Elite® reverse mortgage counselor. The reverse mortgage counselor will discuss how a reverse mortgage works and the associated costs. The goal of the counseling session is to make sure that potential borrowers fully understand and are comfortable with the process and the loan terms.




  • Single-family homes, or 2-to-4 unit properties with one unit occupied by you
  • Manufactured homes (built after June 1976) that meet HUD requirements
  • Condominiums that are FHA-approved, Fannie Mae-approved or RMF-approved
  • Townhouses


  • You must show the financial ability and willingness to meet your loan obligations, which include paying property-related taxes and insurance and keeping up with regular home maintenance and repairs.


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