This information is for general guidance only and has not been provided or approved by the Department of Housing & Urban Development (HUD) or the Federal Housing Administration (FHA). It is not a substitute for professional legal, tax, or financial advice. Please consult with a qualified attorney, accountant, or financial advisor for personalized guidance.

Keep in mind that a reverse mortgage will become due and payable under certain circumstances. Borrowers are responsible for continuing to pay property taxes and insurance, and for maintaining the property according to HUD standards. Failure to do so could result in default. Eligibility for a reverse mortgage is subject to age, minimum income guidelines, credit history, and property qualifications. Please note that program rates, fees, terms, and conditions vary by state and are subject to change.