Expanded choices for enhanced retirement plans.
Discover our selection of reverse mortgage options.
Discover your financial potential.
Access loans of up to $4 million, set up a flexible line of credit, or enhance your home-buying capabilities with our exclusive range of jumbo reverse mortgages.
Give your budget a moment to relax
Access a portion of your home equity without the stress of an additional monthly payment by using a second loan that works alongside your current mortgage.
Access stored home wealth
Eliminate monthly mortgage payments, free up cash, and continue to own and live in your home with the government-insured Home Equity Conversion Mortgage (HECM).
Frequently asked questions
Will my heirs get stuck with the debt?
No. A reverse mortgage is a “non-recourse” loan, which means that if you default on the loan, or if the loan cannot otherwise be repaid, the lender can only enforce the debt through the sale of the property and cannot look to your other assets (or your estate’s assets) to meet any outstanding balance. If the loan balance is higher than the home’s value, your heirs will not be responsible for paying the difference when the home is sold to repay the balance.
What are the borrower qualifications for a reverse mortgage?
To be eligible for a reverse mortgage, you typically need to be a homeowner 62+. However, Finance of America also has an exclusive range of reverse mortgage options available in many states to homeowners 55+. In addition to meeting the age requirement, you’ll need about 50% equity in the home to qualify. You’ll also need to undergo a financial assessment to help determine your ability to meet the terms of the loan.
Will I still own my home?
A reverse mortgage loan ends when the last borrower passes away or otherwise leaves the home. At this time, the loan principal and all accrued interest must be repaid. You or your heirs will have the option to repay the balance through the sale of the home or by paying off the mortgage balance with other funds. If the loan balance exceeds the home’s value, you or your heirs can also sign over the home’s title to the lender and walk away
With a reverse mortgage, you — not the lender — own and control your home. You can’t be removed from the home so long as you uphold the terms of the loan. As with a traditional forward mortgage, the lender simply puts a lien on the property to ensure the loan will be repaid.
Will I still own my home?
