Contact Reverse Mortgages Only

What types of homes qualify for a Reverse Mortgage Loan?

A Reverse Mortgage is available for:

  • Single family homes
  • 2- 4 unit homes so long as one unit is owner-occupied
  • Many condominiums and planned unit developments (property must be on the FHA approved condo list)
  • Some manufactured homes
  • While Cooperatives were approved in January 2009, the HECM guidelines have not yet been published making the approval meaningless.

Reverse Mortgages are for primary residences, with 2-4 unit homes allowable so long as one unit is owner-occupied.  They are not available for rental properties of more than 4 units, commercial property, second (or vacation) homes, mobile or manufactured homes not attached to a permanent foundation, homes on leased land and agricultural property.