Reverse Mortgage
Learn about home-equity options for eligible older homeowners.
A reverse mortgage allows eligible older homeowners to convert part of their home equity into funds without making required monthly mortgage payments, while continuing to live in the home.
Potential benefits
- No required monthly principal and interest payments while program obligations are met.
- Funds may be received in several ways, depending on the program.
- You continue to own and live in your home.
General eligibility considerations
- Minimum age requirements apply.
- Sufficient home equity is required.
- Independent HUD-approved counseling is required for federally insured reverse mortgages.
- The home must be your primary residence.
Important limitations
- The loan balance generally grows over time, reducing equity.
- You must pay property taxes, insurance, and maintain the home.
- The loan becomes due when certain events occur, such as moving out or passing away.
Common questions
Will I lose ownership of my home?
You keep title to your home, but you must meet ongoing loan obligations. Failing to do so can result in the loan becoming due.
Should my family be involved?
Many homeowners include family or trusted advisors in the conversation, and counseling is part of the process.
Is Reverse Mortgage right for you?
Every situation is different. Book a no-pressure consultation and a licensed loan expert will review your goals and walk through the options that may fit.
Program descriptions are general information, not a loan offer or commitment to lend. Eligibility, rates, fees, and terms depend on your circumstances and lender requirements and are subject to change. Not all applicants will qualify.
From first call
to closing day.
Your BridgePoint loan expert walks you through every step, so you always know what is done, what is next, and what you will need.
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Explore your options
Get clear guidance on the programs and possibilities that fit your financial picture.
Move forward with confidence
Your dedicated team stays by your side through the details, decisions, and closing.
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