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If you or a loved one are considering a reverse mortgage, one of the first questions you might have is: "What are the eligibility requirements?" Well, you’re in the right place! In this video, we’ll break it down so you can understand if a reverse mortgage is the right financial tool for you or your client.

A reverse mortgage can be a fantastic option for older homeowners looking to tap into their home equity for a more secure retirement. But before applying, there are a few key qualifications to meet:

✅ Age Requirement: You must be at least 62 years old (both spouses must meet this age if applying together).
✅ Primary Residence: The home must be your primary residence, meaning you live in it for most of the year.
✅ Property Type: Eligible properties include single-family homes, FHA-approved condos, certain multi-unit homes (up to four units), and manufactured homes (not moved more than once).
✅ Home Equity: The more equity you have, the higher your potential loan amount.
✅ Financial Assessment: Lenders review your ability to cover property charges like taxes, insurance, maintenance, and utilities.
✅ Credit Score: There’s no minimum credit score for an FHA-insured Home Equity Conversion Mortgage (HECM), but lenders will review your credit history.
✅ FHA Guidelines: Your home must meet HUD property standards—some repairs may be required before closing.

If you meet these qualifications, a reverse mortgage could be a great option to help you enjoy financial freedom in retirement! But before making any decisions, it’s essential to speak with a trusted reverse mortgage professional—like myself!

💡 Have questions? Drop them in the comments—I’d love to hear from you!
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