Reverse Mortgage Age 60
ContentsLoan amount exceeds62. reverse mortgagesTop ten largest reverseBorrowers aged 60Higher loan balances todayNo. The minimum age is 62 years and there are no exceptions for disability or Social Security status. Can a homeowner that has a mortgage still get a reverse mortgage loan? Yes. Many people who obtain a reverse mortgage loan use it to pay off their existing mortgage and eliminate monthly mortgage payments. 1; Does every homeowner over age 62 qualify? No.Other companies' proprietary offerings have their own special niche features designed to improve on FHA's rules: Equity Edge's program lowers the eligibility age for some borrowers to 60 instead of 62.Since the scheme is targeted at helping senior citizens, if you wish to apply, you must be over the age of 60 years. If you're applying jointly,…