Your Home.Your Retirement.Your Choice.

Yes, absolutely. With a reverse mortgage, you retain full ownership of your home. The lender does not own your home. You must continue to pay property taxes, homeowners insurance, and maintain the property — but the home remains yours for as long as it is your primary residence.

To qualify, the youngest homeowner generally must be 55 or older, live in the home as a primary residence, and have sufficient home equity. The property must also meet eligible FHA or lender guidelines, and borrowers need to stay current on taxes, insurance, and basic home maintenance.

A reverse mortgage typically does not require monthly mortgage payments. The loan is repaid when the home is sold, the borrower moves out permanently, or the final surviving borrower passes away. At that point, the loan balance is usually paid from the home sale proceeds.

Your heirs still have options. They can sell the home and keep any remaining equity after the loan is paid, refinance the balance to keep the property, or choose to walk away if the home value is less than the loan amount. Reverse mortgages protect heirs from owing more than the home's value.

The amount depends on several factors, including your age, home value, current interest rates, and existing mortgage balance. In general, the older the youngest borrower and the more equity available, the higher the potential loan amount.

A reverse mortgage may be a strong fit if you want to eliminate monthly mortgage payments, improve cash flow, supplement retirement income, or access home equity while staying in your home. The best way to know is to review your situation with a licensed advisor.