Page 6 - NFS_Your Guide to a Better Retirement

How Do You Qualify? Does Your

To be eligible for a reverse mortgage, you must: Property Qualify?

For HECMs
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 HUD-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
insurance, homeowner association and
any other applicable fees

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