Credit Union Mortgage Association, Inc.

Reverse Mortgages: Qualifications

Qualifications For Reverse Mortgages

The qualifications for a reverse mortgage are simple. As you read the following information, please contact us with any questions:

  • Applicant members must be at least 62 years of age.
  • The applicant must be a homeowner* (includes single family residence, condo, townhouse, or manufactured housing built after June 1976).
  • The home does NOT need to be owned “free and clear.”
  • No income or medical requirements are needed to qualify.
  • There are no credit/credit score requirements.

* Must own home as primary residence in District of Columbia, Florida, Georgia, Maryland, North Carolina, Virginia or West Virginia.

 

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NRMLA
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