Reverse Mortgage
A reverse mortgage lets homeowners 62 and older borrow against their home equity and receive payments instead of making them, with the loan repaid when they sell, move out, or pass away. It can supplement retirement income but steadily shrinks the equity you leave behind.
Fees and compounding interest can be significant, and you must keep paying taxes, insurance, and upkeep to avoid default. It's a specialized tool for house-rich, cash-poor retirees — best explored with independent, non-commissioned counseling first.
Put it to work
Home Equity Calculator
Calculate your home equity and how much you could borrow with a HELOC or home equity loan, based on your lender's combined loan-to-value limit.
Mortgage Calculator
Estimate your monthly mortgage payment with taxes, insurance, PMI and HOA — plus total interest and a full amortization breakdown. Free, fast, no signup.