HECM reverse mortgages are built for homeowners age 62 and older who live in the home as their primary residence, have enough equity, complete required counseling, and can keep taxes and insurance current — subject to underwriting and program rules.
Age is the headline rule — the youngest borrower on a standard HECM must be at least 62. The property must be your principal residence, and eligible property types typically include single-family homes, FHA-approved condos, and certain 2–4 unit properties you occupy.
You also need enough equity. If you still have a forward mortgage, reverse proceeds are used first to pay it off at closing. Thin equity, high existing balances, or major title issues can stop a file even when you meet the age and occupancy tests.
HUD-approved counseling is mandatory before a HECM can close. Lenders also run a financial assessment to confirm you can maintain property charges. Ryan and Steve help you gather documents and understand whether a set-aside for taxes and insurance may be required.
Meeting the age minimum is only the start — property, equity, and financial capacity complete the picture.
Use this as a conversation starter with Ryan and Steve — not a guarantee of approval.
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Related guides to help you compare options and move toward a review.
HUD counseling every HECM borrower must complete before closing.
How the financial assessment treats imperfect credit files.
Age 62 rules, non-borrowing spouses, and how age affects proceeds.
A practical fit checklist beyond basic qualification.
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Ryan & Steve can review your age, equity, and property charges so you know whether a HECM is realistic — not a commitment to lend; subject to credit and property approval.