Check Eligibility

Misconceptions about how a reverse mortgage works are common. Having access to the right information as you make your decision can easily help you balance the pros and cons and evaluate if a reverse mortgage is right for you.

Once I have a reverse mortgage I no longer own my house.

This is one of the most common myths. The truth is, you retain ownership of your home and your name remains on the title – just like any other type of mortgage. As with any home-secured loan (or mortgage), you must meet your loan obligations, keep current with property taxes, insurance, maintenance, and any homeowners association fees.

I probably won’t qualify because I already have a mortgage on my home.

You may still be eligible for a reverse mortgage. Proceeds from your reverse mortgage would first be used to pay off any existing mortgage(s). This means the balance of your existing mortgage(s) will be added to the balance of your reverse mortgage. One of our experienced loan officers can help you find out if you are eligible.

I won’t be able to leave my home to my heirs.

When you pass away, your designated heir(s) will still inherit your home. If they decide to keep the home, they will have to pay back the loan balance, which includes the amount of funds that you used plus accrued interest and fees. Or, they can decide to sell the home to repay the loan; in this case, once the loan is repaid any remaining equity is theirs to keep.


Now that you know the basic facts about a reverse mortgage, learn more about how much you may qualify for with a reverse mortgage using our reverse mortgage calculator.

Check Eligibility

My spouse will not be provided for once I pass away

Your co-borrowing spouse can remain living in the home and enjoying all the benefits of the reverse mortgage.

A reverse mortgage will interfere with my Social Security.

The funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. In fact, many people use their reverse mortgage to delay taking Social Security benefits so they can receive a higher monthly payout. Needs-based benefits such as Supplemental Security Income (SSI) or Medicaid may be affected. Consult a financial professional. Visit

I could end up owing more that the home is worth with a reverse mortgage.

Our reverse mortgages are non-recourse loans. This means that you and your heirs can never owe more than the house is worth when the loan is repaid.



Discover how you can achieve the retirement you deserve with flexible home financing solutions

Get your free digital guide now!


Benicia, CA

I just so happen to have a reverse mortgage. The best thing I ever did in my life.

Philadelphia, PA

You get to stay in the house and that's a really good thing. Especially since you still own the house.¹

Fairport, NY

It's a mortgage, or it's a line of credit, but with flexibility. I haven't heard yet any reason why I shouldn't pick this product.

¹As with any mortgage, borrower must meet their loan obligations, keeping current with property taxes, homeowners insurance, and maintenance.

*This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.