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Reverse Mortgage
Convert home equity to cash flow at 62 or older. A HECM lets qualifying seniors draw on equity with no required monthly mortgage payment for as long as the home is their primary residence.
By Sunrise Lending
About this program
What is a Reverse Mortgage?
A reverse mortgage lets homeowners aged 62 and older convert a portion of their home equity into proceeds — as a lump sum, a line of credit, monthly advances, or a combination. The most common type is the FHA-insured Home Equity Conversion Mortgage (HECM). There is no required monthly mortgage payment; the balance is repaid when the last borrower sells, moves out permanently, or passes away. Borrowers remain responsible for property taxes, homeowners insurance, and upkeep, and must keep the home as their primary residence.
What it usually looks like
- For homeowners aged 62 or older with substantial home equity
- FHA-insured HECM is the most common program; jumbo options exist for high-value homes
- No required monthly mortgage payment while the home is your primary residence
- HUD-approved counseling is required before the application can proceed
- You keep paying property taxes, insurance, and maintenance to stay in good standing
Who this fits
Not sure if Reverse Mortgage is the right fit?
Take the 60-second check-in. The matcher narrows you to the right path; a licensed mortgage officer reviews before anything formal moves.
Related resources
Sunrise Lending · Equal Housing Opportunity. Matching rules are written and reviewed by licensed mortgage professionals. All loan decisions are made by licensed mortgage professionals. Not a commitment to lend. Loan approval subject to underwriting guidelines. This is not financial advice.