The reverse mortgage loan gives you the funds you need for your retirement. To qualify for a reverse mortgage, you must be at least 62 years old, own your home out right, or have a low mortgage rate.
A reverse mortgage can provide you with money from established equity accumulated over time. This is an option that can help make your retirement more planned and enjoyable. A reverse mortgage isn’t like re-financing your home where you would need to have a set income to qualify.