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Reverse mortgage quiz
For homeowners 62 and older who want to stay in their home and use some of its value. Six quick questions, no personal info.
Six yes-or-no questions. No numbers, no personal info.
This quiz is a first check only. A reverse mortgage (HECM) needs a talk with a HUD-approved counselor before you apply, and every loan is subject to approval.
Understand your numbers
A loan for homeowners 62 and older. You turn part of your home’s value into cash, and you don’t make a monthly mortgage payment.
Property tax, home insurance and upkeep. If those aren’t paid, the loan can come due.
When the last borrower sells, moves out for good, or passes away. The home is usually sold to pay it off.
Heirs can keep the home by paying off the loan, or sell it. If the home is worth less than the loan, they usually don’t owe the difference.
Before you apply, you talk with a counselor approved by HUD. It’s there to protect you.
Tips
Talk with your kids or heirs before you decide, so nobody is surprised later.
Ask about other choices too, like selling and moving smaller, or a home equity loan.
A real lender will never rush you or ask you to sign something you don't understand.
Questions
You keep the title. But if you stop paying tax or insurance, or move out for good, the loan can come due.
Often yes. The reverse mortgage pays off the old loan first.
Yes. There is a version for buying a home, often used to move somewhere smaller.
Talk to Angela
Angela’s lending side can walk you and your family through it, with no pressure. And because we do real estate too, we can help if selling is the better choice.
Call Angela. No pressure and no cost to talk. Just honest answers about your home and your options.
