Confirm age, home value, property type, and equity to determine whether a reverse mortgage may be an option for you.
LOAN PROGRAM
Explore Reverse Mortgage Options for Homeowners 62+
Turn part of your home equity into cash while you stay in your home, with no required monthly mortgage payment when program terms are met. Available across our seven licensed states.
Independent Brokerage, Many Lenders
Licensed in 7 States
NMLS #2367229
Decades of Combined Experience
REVERSE MORTGAGE
What Is a Reverse Mortgage?
A reverse mortgage is a home loan for homeowners age 62 and older that converts a portion of your home equity into cash without requiring monthly mortgage payments. Instead of you paying the lender, the lender pays you. The loan is repaid when the home is sold, you move out, or the borrower passes away. Most reverse mortgages are Home Equity Conversion Mortgages (HECMs), insured by the Federal Housing Administration.
How Does the Reverse Mortgage Process Work?
Here’s what typically happens when you explore a reverse mortgage:
Confirm Eligibility
Complete Counseling
Complete required counseling with a HUD-approved counselor to understand your options and responsibilities.
Compare Payout Structures
Compare available payout structures and loan terms to understand which reverse mortgage options may fit your situation.
Choose the Right Option
Choose the option that best fits your financial needs, goals, and plans for the home.
REVERSE MORTGAGE BENEFITS
Why Homeowners Consider a Reverse Mortgage?
Reverse mortgages can help you turn part of your home’s equity into funds you can use during retirement or later years. Common reasons homeowners explore a reverse mortgage include:
Supplement Retirement Income
Use home equity to add funds that can support retirement expenses and provide more financial flexibility.
Cover Healthcare or Living Costs
Access equity to help manage healthcare expenses, home care, or other essential living costs.
Reduce Monthly Financial Pressure
A reverse mortgage can eliminate required monthly principal and interest payments when program obligations are met, which may help ease monthly cash-flow pressure.
Access a Line of Credit
A reverse mortgage line-of-credit option may provide access to available funds for future financial needs.
Your payout option, such as a lump sum, monthly payments, or a line of credit, is based on your financial profile, home value, and lender guidelines.
REVERSE MORTGAGE ELIGIBILITY
Who May Qualify for a Reverse Mortgage?
- Be age 62 or older
- Own your home and use it as your primary residence
- Have significant equity in your home
- Continue to maintain property taxes, insurance, and upkeep
- Complete required counseling
COUNSELING AND DISCLOSURE
Reverse Mortgage Counseling and Oregon Disclosure
Mortgage Marketplace LLC is required to provide the following disclosure. A reverse mortgage is a complex financial product. Before proceeding, Oregon law requires you to receive counseling from a HUD-approved housing counselor. View the Oregon Reverse Mortgage Disclosure.
MAKING THE DECISION
Is a Reverse Mortgage Right for You?
A reverse mortgage is a practical option for homeowners 62 and older who have significant equity and want to access it without selling the home or making monthly mortgage payments. It is not the right fit for everyone. Because the loan balance grows over time, it reduces the equity available to heirs.
We compare your options across multiple lenders so you see the real numbers before you decide.
THE BROKER ADVANTAGE
One Broker. Many Reverse Mortgage Options.
Reverse mortgage programs can vary by lender, including available payout structures, loan terms, costs, and qualification requirements.
We are independent. We compare reverse mortgage options across our lender network and help you understand how the available structures differ so you can make an informed decision.
REVERSE MORTGAGE FAQ
Questions Homeowners Ask About Reverse Mortgages
What is a reverse mortgage?
A reverse mortgage allows homeowners aged 62 and older to convert part of their home equity into cash without a required monthly mortgage payment. The most common type is the Home Equity Conversion Mortgage, which is insured by the Federal Housing Administration. The loan is repaid when the home is sold or is no longer your principal residence.
Do I still own my home with a reverse mortgage?
Yes. You remain on title and you remain the owner. The lender does not take ownership of the property. You are still responsible for property taxes, homeowners insurance, and maintaining the home, and failing to keep those current can cause the loan to become due.
Do I have to make monthly payments?
No monthly principal and interest payment is required while you live in the home as your principal residence. You must continue paying property taxes, homeowners insurance, and any applicable association dues, and keep the property maintained. You may make voluntary payments toward the balance at any time.
How much can I borrow with a reverse mortgage?
The amount depends on the age of the youngest borrower or eligible non-borrowing spouse, current interest rates, and the lesser of the home’s appraised value, the FHA HECM limit, or the sales price. Older borrowers are generally able to access more. For 2026, the nationwide HECM maximum claim amount is $1,249,125. This is a program limit, not the amount every homeowner will receive. We will run the actual numbers for your situation rather than provide a general estimate.
What happens to my heirs?
When the loan becomes due, your heirs may repay the balance and keep the home, or sell the property and keep any remaining equity. A HECM is a non-recourse loan, which means neither you nor your heirs owe more than the home is worth at the time of sale. This is one of the most misunderstood parts of the program.
Is counseling required for a reverse mortgage?
Yes. HUD requires independent counseling from an approved agency before a HECM application can proceed. The session exists to make sure you understand the obligations and the alternatives. We support the requirement and will help you locate an approved counselor.
Is a reverse mortgage a good idea?
It depends entirely on your circumstances, your plans for the home, and what you intend to do with the proceeds. It suits some homeowners well and is wrong for others. This is a decision worth taking slowly, with family involved, and with a clear look at the alternatives such as downsizing or a home equity line.
What are the Oregon-specific rules?
Oregon requires specific reverse mortgage disclosures, which are published on our site. Review them before proceeding. We are licensed in Oregon, California, Washington, Idaho, Texas, Florida, and Montana, with offices in Salem and Eugene, Oregon.
Review Your Reverse Mortgage Options
Rates and payout structures vary by age, equity, and goals. Begin with a tailored analysis to see how options align with your retirement needs.