Page 6 - NFS Your Guide Info Kit Booklet (RM + RS)

How Do You Qualify? Property types that
may qualify for HECM
To be eligible for a reverse mortgage, you must at a minimum:
loans include:
Be 62 years or older (a non-borrowing spouse may be
under age 62) Single-family homes or
2-4 unit homes (You must
Own and live in your home as your primary residence.
occupy one of the units)
Undergo a financial assessment to ensure FHA-approved
a reverse mortgage can serve you as a condominiums
sustainable, long-term retirement solution
Manufactured homes that
Receive counseling by an independent, meet FHA requirements
HUD-approved third-party to confirm you
understand your obligations and ( AAG Advantage loans do not
responsibilities with a reverse mortgage require FHA approval)

Maintain the property and continue
paying property taxes, homeowners To learn more, call
insurance, homeowner association and me today!
any other applicable fees

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