It’s an unfortunate thing that many seniors reach retirement age with very little savings. So if you get to that point and need money, you may be inclined to sign up for a reverse mortgage. In ...

Opting for a reverse mortgage could have an impact on your family's generational wealth. Getty Images If you're a homeowner over age 62, you may be sitting on your biggest financial asset while ...

HELOC vs. reverse mortgage: What seniors should consider now. Eligible senior homeowners who are considering borrowing against their home's values can look into a home equity line of credit or a ...

And the reverse mortgage 5-year fixed rates are about 7%, and 5-year fixed mortgage rates are about 5%. HELOC rates are generally 1% above prime, so they’re currently around 7.95%.

Why it’s bad: Anyone who tells you that a reverse mortgage is free income is lying. This money isn’t free. Any money you get goes toward the balance of your loan payment.

Why top reverse mortgage originator George Vrban took out a reverse mortgage at 62 — and why it makes financial sense May 20, 2025, 4:52am by Dan Hultquist. News > Contributors.

A home equity conversion mortgage, or HECM, is the most common type of reverse mortgage. It is backed by the Federal Housing Administration and, in 2025, is capped at $1,209,750. Are home equity ...

Getting multiple mortgage quotes could save you $1,200 a year or more. Learn how rate shopping works, why it matters, and what to watch for in loan offers.

Across a 14-year reverse mortgage career, O’Donoghue said he has had only a few instances in which a borrower’s adult child complained forcefully about the upfront cost of the loan in ...

You have a substantial amount of home equity and need to supplement retirement income. If you own your home outright and find Social Security isn’t enough to meet your needs, a reverse mortgage ...

With a reverse mortgage, seniors can transform the equity in their home into cash, but without the same monthly payment obligations as a HELOC. However, each loan product has pros and cons.