To be eligible for a reverse mortgage, you must:
Single-family homes or 2-4 unit homes (You must occupy one of the units)
*SSF Advantage loans do not require FHA approval
Manufactured homes that meet FHA requirements
The size of your loan amount is based on three primary factors.
Your Age: The age of the youngest borrower or eligible non-borrowing spouse—the older you are, the more funds may be available
Your Home’s Value: The higher your home appraises at, and the more equity you have in your home, may make more funds
Current Interest Rate: Fixed and adjustable rate options are available—the lower the interest rate, the more funds may be available
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