Reverse Mortgage
HOW DO YOU QUALIFY?
How Do You Qualify?
How Do You Qualify?
To be eligible for a reverse mortgage, you must:
- Be 62 years or older (a non-borrowing spouse may be under age 62)
- Own and live in your home as your primary residence.
- Undergo a financial assessment to ensure a reverse mortgage can serve you as a sustainable, long-term retirement solution
- Receive counseling by an independent, HUD-approved third-party to confirm you understand your obligations and responsibilities with a reverse mortgage
- Maintain the property and continue paying property taxes, homeowners insurance, homeowner association and any other applicable fees
Does Your Property Qualify?
Single-family homes or 2-4 unit homes (You must occupy one of the units)
HUD-approved condominiums*
*SSF Advantage loans do not require FHA approval
Manufactured homes that meet FHA requirements
How Much Money Could You Qualify For?
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
available
Current Interest Rate: Fixed and adjustable rate options are available—the lower the interest rate, the more funds may be available
We're Here To Help
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CONTACT
Shining Star Funding
Corporate Office
6101 Bollinger Canyon Rd, Suit 344
San Ramon, CA 94583
(925) 820-2981
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