Not all homeowners are eligible for a reverse mortgage. Understanding reverse mortgage requirements is the first-step to take when considering applying. What are the requirements for reverse mortgage?
- Your home must be your primary residence.
- You must be current on your loan and/or federal loans, I.e. student loans, etc.
- You must complete counseling with HUD
Click link for additional requirements https://www.consumerfinance.gov/ask-cfpb/can-anyone-apply-for-a-reverse-mortgage-loan-en-227/