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Reverse Mortgages

Access the equity in your home without a monthly mortgage payment.

What Is a Reverse Mortgage? 

A reverse mortgage lets eligible homeowners borrow against the equity they have built, with no monthly mortgage payment required. Instead of you paying the lender each month, the lender pays you — either as a lump sum, a line of credit, fixed monthly payments, or a combination. 

The most common type is the Home Equity Conversion Mortgage, or HECM, which is insured by the Federal Housing Administration. The loan balance grows over time as interest accrues, and it becomes due when the last borrower moves out, sells the home, or passes away. The home can then be sold to repay the loan, and any remaining equity belongs to the estate. 

Reverse mortgages are tightly regulated and require HUD-approved counseling before you can close. Lender Express is a mortgage broker, which means we work with reverse mortgage lenders on your behalf to find the right terms.

 

Key Benefits

  • No monthly mortgage payment required for as long as you live in the home
  • Access equity without selling your home
  • Flexible payout options: lump sum, monthly payments, line of credit, or a combination
  • Loan proceeds are generally tax-free (consult a tax advisor)
  • Non-recourse loan — you will never owe more than the home is worth
  • FHA insurance on HECM loans protects borrowers if the lender changes
  • Spouse protections available even for non-borrowing spouses

 

How It Works

  1. You speak with a Lender Express loan officer to review your age, home value, existing mortgage balance, and goals.
  2. You complete a required counseling session with a HUD-approved housing counselor. This is a federal requirement and is independent of us.
  3. We shop lenders and present you with reverse mortgage options based on your profile.
  4. You choose your preferred payout method: lump sum, credit line, monthly payments, or a combination.
  5. The loan closes, any existing mortgage is paid off from the proceeds, and you receive your funds.
  6. You remain responsible for property taxes, homeowners insurance, and basic home maintenance. The loan becomes due when you leave the home.

 

You can use our home equity calculator to get a rough estimate of the equity in your home before speaking with a loan officer. Link: https://lenderexpress.com/mortgage-calculator/

 

Who This Loan Is Best For

  • Homeowners age 62 or older with significant equity in their primary residence
  • Retirees who want to supplement Social Security, pension, or investment income
  • People who want to reduce or eliminate a current mortgage payment
  • Homeowners covering healthcare, long-term care, or other major expenses
  • Those who plan to remain in their home long-term and want to age in place
  • Homeowners who want a tax-free line of credit available for future needs

 

A reverse mortgage is not for everyone. If you plan to move soon, have heirs who want to keep the home without a loan payoff, or are not committed to maintaining the property, it may not be the right fit. A Lender Express loan officer will help you weigh the tradeoffs honestly.

 

Basic Requirements

The following apply to the most common reverse mortgage product, the HECM:

  • At least one borrower must be age 62 or older
  • The home must be the borrower’s primary residence
  • The home must be a single-family property, FHA-approved condo, or qualifying manufactured home
  • There must be sufficient equity in the home (an existing mortgage can be paid off with proceeds)
  • You must complete a HUD-approved counseling session before closing
  • You must continue paying property taxes, homeowners insurance, and maintain the home
  • Credit and income are reviewed to confirm your ability to meet ongoing property obligations

Our Extensive Loan Product Offering Includes:

We leverage advanced lending technology to enhance every stage of the loan journey — from instant calculations and eligibility checks to secure document processing. This platform-driven approach allows us to deliver faster responses while maintaining accuracy and compliance.

  • Conventional Loans (including low down payment options)
  • FHA Loans
  • VA Loans (even for borrowers with credit challenges)
  • USDA Loans
  • Jumbo Loans
  • HELOCs and Home Equity Loans
  • Reverse Mortgages
  • 2-1 Buydowns (help your clients reduce their initial monthly payments)
  • Down Payment Assistance Programs (DPA)
  • Non-QM Loans (for borrowers who don’t fit traditional lending criteria)
  • DSCR Loans (multiple ways to structure for investors)
  • Bank Statement Loans (for self-employed borrowers)

COMMON QUESTIONS

Do I still own my home with a reverse mortgage?
Yes. You remain the owner of your home. The reverse mortgage is a lien, just like a traditional mortgage. You retain the title and can live in the home as long as you meet the loan requirements, including paying property taxes and insurance.
What happens to the home when I pass away?
Your heirs can sell the home to pay off the loan balance, or they can pay off the loan and keep the home. If the loan balance is higher than the home's value, FHA insurance covers the difference. Your heirs will never owe more than the home is worth.
Can I lose my home with a reverse mortgage?
You can lose the home only if you fail to meet the loan requirements: living in the home as your primary residence, paying property taxes and homeowners insurance, and keeping the home in reasonable condition. As long as you meet those obligations, the lender cannot force you out.
How is a reverse mortgage different from a HELOC?
Both let you access home equity. A HELOC requires monthly payments during the draw period and has a variable interest rate. A reverse mortgage does not require monthly payments and is designed specifically for older homeowners who want to reduce their monthly obligations.
How much can I receive from a reverse mortgage?
The amount depends on your age, the value of your home, current interest rates, and the reverse mortgage product you choose. Generally, older borrowers with more equity and lower interest rates receive higher payouts. Your loan officer will run the numbers for your specific situation.
Is reverse mortgage counseling required?
Yes. Federal law requires that all HECM borrowers complete a counseling session with a HUD-approved housing counselor before they can apply. This session is independent, is not provided by Lender Express, and is designed to help you fully understand the loan before committing.
Can a non-borrowing spouse stay in the home?
Eligible non-borrowing spouses may be able to remain in the home after the borrowing spouse passes away or moves to a care facility, subject to certain conditions. Your loan officer can walk you through the specific protections available.

Helpful Tools and Resources

Use our mortgage calculators to estimate the equity in your home and explore how different payout options could affect your financial picture.

Open Mortgage Calculator →

If you are helping a family member explore their options, our free First-Time Homebuyer Guide covers the fundamentals of homeownership and equity in plain language.

Download Free Guide →

Related Programs

View All Programs →
HELOC and Home Equity Loans →
Asset Utilization Loans →

Why Lender Express

We Work for You, Not a Bank

Lender Express is a mortgage broker, not a lender. That distinction matters. We work for you, not for a single bank. Our job is to compare loan options across a wide network and help you find a solution that fits your goals and your situation.


Our loan officers take the time to understand what matters most to you before making any recommendations. The focus is always on clear guidance, honest answers, and helping you make a confident decision.

A reverse mortgage is a significant financial decision.

Our loan officers are here to answer your questions clearly, explain your options honestly, and help you decide if it is right for your situation. There is no obligation to apply.
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Interest Rates, APR’s & programs are illustrations subject to change at any time. These do not constitute a ‘Loan or Good Faith Estimate’ for payments and closing costs. Not all applicants will qualify. APR may vary by product type. Consumer is not obligated to use any party mentioned. Lender Express Mortgage is not affiliated with FHA, VA, USDA or the Federal Government. Lender Express Mortgage, LLC supports Equal Housing Opportunity (www.nmlsconsumeraccess.org) | (888) 286-0367 | 2500 S Power Rd Bldg 9 Ste 133, Mesa, AZ 85209. Regulated by the AZ Department of Financial Institutions. Arizona License #MB-1008082, CA #60DBO-140688, CO #MB-1963444, FL #MBR4665, IA #1963444, OR #1963444, PA #79751, TX #1963444. Figure: 7 tac § 80.200(b) consumer wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department website at www.Sml.Texas.Gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.Sml.Texas.Gov. Above information and content is accurate as of 6/22.