See who typically qualifies for a HECM — age 62+, primary residence, equity, counseling, and the financial assessment explained.
Who Qualifies for a Reverse Mortgage? | The 2 Mortgage Guys
See who typically qualifies for a HECM — age 62+, primary residence, equity, counseling, and the financial assessment explained.
Who Qualifies for a Reverse Mortgage?
Core HECM Eligibility Requirements
At a Glance
What Lenders Look At Beyond Age
Quick Eligibility Checklist
Keep Exploring
Related Blog Posts
Frequently Asked Questions
Find Out If You Qualify
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.
Step
Related guides to help you compare options and move toward a review.
2MG Daily
Recent articles on reverse mortgages, home equity, and retirement financing.
No related blog posts yet. Check back soon for the latest updates.
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.