The program allows you to borrow against the equity you've built in your home without your having to make payments on the debt for as long as you live there.

How do you Qualify?

To qualify for a reverse mortgage you must be at least 62 and own your own home. There is no income or credit requirements to qualify.

You may be eligible for a reverse mortgage even if you still owe money on a first or second mortgage. In fact, many seniors get a reverse mortgage to pay off a first mortgage and eliminate their current mortgage payment.

The size of the reverse mortgage that you can get depends on your age at the time you apply for the loan, the type of reverse mortgage you choose, the value of your home, current interest rates, and - sometimes - where you live. In general, the older you are and the more valuable your home (and the less you owe on your home), the larger the reverse mortgage can be.

You can choose how to receive the money from a reverse mortgage. The options are: all at once (lump sum); fixed monthly payments (for up to life); a line of credit; or a combination of these.

The most popular option - chosen by more than 60 percent of borrowers - is the line of credit, which allows you to draw on the loan proceeds at any time.

The table in want to know ? can give you some samples of how much you might qualify for.  There is also a contact page to provide your date of birth and property value.  We can then provide you with an accurate detailed proposal which can be faxed or emailed to you.