Understanding comes first
What is a reverse mortgage?
A reverse mortgage lets homeowners aged 55 and over access part of the equity in their home while continuing to live there. We explain the mechanics, costs, and decisions in plain language.
You remain the homeowner
Unlike selling or moving, a reverse mortgage gives you a way to use the equity you have built while keeping ownership. You continue living in the home you know and remain responsible for taxes, insurance, and upkeep.
Funds now
Depending on the product and your situation, funds may be available as a lump sum, advances, or another option.
Payments later
Regular loan payments are generally not required. Interest is added to the balance, with repayment usually due when the home is sold or the last borrower moves out.
Your plans
Use funds for renovations, debt repayment, family support, travel, or everyday expenses.
What to understand first
The balance grows
When regular payments are not required, interest is added to the loan balance. That reduces available equity over time.
The home still needs care
Borrowers continue to pay property taxes and insurance and maintain the home in good condition.
Terms vary
Rates, limits, fees, and payout options depend on the lender, age, home value, and your circumstances.
You do not have to decide today
The first conversation is for questions and comparison. There is no obligation to continue.