Reverse Mortgages

Reverse Mortgages

How does a Reverse Mortgage work?

Available to individuals 62 years of age and older, Reverse Mortgages provide the opportunity to cash in on your home equity to supplement your monthly income. These special mortgages allow the borrower to remain in their home with no monthly payment, and the money they receive through the agreement is not taxed.


Some of the most important features that make a Reverse Mortgage an attractive option include the fact that you get to keep the title of your home, the income you receive is not taxable and it won't likely affect your Medicare or Social Security benefits.

Generally, Reverse Mortgages last until the borrower dies, moves or sells their home. At that time, the loan must be repaid, based on the terms agreed upon at signing.

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Reverse Mortgage Types

  • Single-Purpose

    These can be offered by local and state governments, as well as nonprofit organizations.

  • Proprietary

    These are private loans created and offered by private companies.

  • Federally Insured

    Formally known as Home Equity Conversion Mortgages, these are backed by the U.S. Department of Housing and Urban Development.

Key Information
  • Receive Monthly Payments
  • Retain Your Home Title
  • Non-Taxable Income
  • Usually Doesn't Affect Social Security or Medicare
  • Available to Borrowers 62 or Older
  • Still Responsible for Property Taxes, Utilities and Other Related Fees


Interested in learning more about Reverse Mortgages and whether or not one may be a good option for you? The Lending360 team is here to help answer all of your questions and craft a plan that's specially built around you. Just click the button to get started!

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