Am I eligible for a reverse mortgage?

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To qualify for a reverse mortgage, you must:

Be at least 62 years old. In the case of a couple or co-owners, both must be 62 if their names appear on the title of the home.¹

Be a homeowner with equity in your home. You may qualify even if you have an outstanding balance on your first mortgage. Single-family homes and qualified condominiums, townhouses, manufactured homes, and 1 to 4 family owner occupied residences are eligible. Reverse mortgages are available only for homes occupied by owners as a principal residence.

1 If one spouse or co-owner is under 62, that person's name must be removed from the title so that the other person can qualify for the reverse mortgage.

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