A single-purpose reverse mortgage is one of the most cost-effective types of reverse mortgages, and they're also the most difficult to find. They are typically offered by local and state ...

When it comes to reverse mortgages, homeowners have options. A home equity conversion mortgage (HECM) may seem like the best option, but for homeowners with a high-value home or who need a lump ...

Available to owners 62 and older, single-purpose reverse mortgages typically have lower interest rates but are harder to come by. You can refinance a reverse mortgage just like any other home loan.

Single-purpose reverse mortgage – Not as common as a HECM or proprietary reverse mortgage, this is a loan from a state or local government agency or nonprofit. Generally, it’s the least ...

The only reason you'd be limited? If you choose to take out a single-purpose reverse mortgage, you are limited to paying for property taxes and necessary home repairs or other specific agreed-upon ...

A reverse mortgage draws funds from your home equity ... s market value when you or your heirs need to repay the loan. Single-purpose reverse mortgages are loans available through some state ...

single-purpose reverse mortgages often come with lower fees and interest rates, making them an affordable option if you qualify. The downside of this type of reverse mortgage is that it lacks the ...

Reverse mortgage Refinance, Single-Purpose Reverse Mortgage, Proprietary Reverse Mortgage Learn More Highly rated by past customers and has an A+ rating from the Better Business Bureau HECM ...

Single-purpose reverse mortgages. Offered by state and local governments and may only be used for lender-specified purposes, such as home repairs or property taxes. Some reverse mortgage lenders ...

A single-purpose reverse mortgage is one of the available options. It’s slightly different from a traditional reverse mortgage but easier to qualify. This guide will explore what to expect from ...

Typically, a state or local government agency or nonprofit organization offers this type of reverse mortgage. As the name suggests, you can only use a single-purpose reverse mortgage for one ...

While HECMs represent the bulk of the reverse mortgage market, a small segment includes two other types: single-purpose reverse mortgages and proprietary reverse mortgages. Sometimes, a single ...