Age is the most important factor in reverse mortgage eligibility. Here's everything you need to know about age requirements and how they affect how much you can borrow. The Basic Rules HECM (Standard) Reverse Mortgages: Minimum age 62 Jumbo (Private) Reverse Mortgages: Minimum age 62 That's it for age requirements. Whether you're 62 or 92, you can qualify if you meet other requirements. Why Age Matters So Much Age doesn't just determine if you qualify—it dramatically affects how much you can borrow. Older borrowers can access significantly more equity: Age 62: Access about 34% of home value Age 70: Access about 36% Age 80: Access about 45% Age 85: Access about 50% On a $500,000 home: Age 62: About $181,000 Age 70: About $210,000 Age 80: About $245,000 That's a $64,000 difference between 62 and 80 years old. What If I'm Married? If you're both 62+, you can both be borrowers—the loan continues as long as either spouse lives in the home. Should You Wait for a Higher Age Bracket? Wait if: Your finances are stable A few years would significantly increase your proceeds You don't have urgent needs Don't wait if: You're at risk of foreclosure You can't afford current mortgage payments You have immediate financial needs Health concerns affect planning Tip: Contact Reverse Mortgage Services of Texas for calculations showing exactly how waiting would change your proceeds. Fixed Rate vs. Adjustable Rate Once you meet age requirements, choose your loan structure: Fixed Rate: Locked interest rate Lump sum only Slightly higher rates Adjustable Rate (Usually Better): Lower starting rates Choose lump sum, monthly payments, or line of credit Line of credit grows over time Only pay interest on borrowed amounts Most borrowers benefit from adjustable rates with lines of credit. Quick Qualification Checklist Beyond age, you need: ✓ Home as your primary residence ✓ At least 60% equity (varies by age) ✓ Current on property taxes and insurance ✓ Property in decent condition ✓ Completed HUD-approved counseling Common Age-Related Questions Q: Can my 40-year-old daughter be on the loan with me? NO: Q: My spouse isn't on the deed. Can I still get a reverse mortgage? YES: if you refinance your reverse you can add him or her to the loan. Both spouses must be 62+ to qualify. Q: Can I outlive the reverse mortgage? A: No! As long as you live in the home and maintain obligations, the loan never comes due. Making Age Work for You The older you are, the more favorable the terms—but don't wait if you have pressing needs now. The key is balancing immediate financial requirements against potential benefits of waiting. Next Steps Determine if you meet the age requirement (62 for HECM and jumbo) Get personalized calculations for your age and property value Complete HUD-approved counseling Compare multiple lenders Discuss plans with family Want to know exactly how much you could access at your age? Contact Robb @ 469-450-8005 with Reverse Mortgage Services of Texas or email him @ reversemortgageservicesoftexas.com for personalized calculations and expert guidance.

Age is the most important factor in reverse mortgage eligibility. Here's everything you need to know about age requirements and how they affect how much you can borrow. The Basic Rules HECM (Standard) Reverse Mortgages: Minimum age 62 Jumbo (Private) Reverse Mortgages: Minimum age 62 That's it for age requirements. Whether you're 62 or 92, you can qualify if you meet other requirements. Why Age Matters So Much Age doesn't just determine if you qualify—it dramatically affects how much you can borrow. Older borrowers can access significantly more equity: Age 62: Access about 34% of home value Age 70: Access about 36% Age 80: Access about 45% Age 85: Access about 50% On a $500,000 home: Age 62: About $181,000 Age 70: About $210,000 Age 80: About $245,000 That's a $64,000 difference between 62 and 80 years old. What If I'm Married? If you're both 62+, you can both be borrowers—the loan continues as long as either spouse lives in the home. Should You Wait for a Higher Age Bracket? Wait if: Your finances are stable A few years would significantly increase your proceeds You don't have urgent needs Don't wait if: You're at risk of foreclosure You can't afford current mortgage payments You have immediate financial needs Health concerns affect planning Tip: Contact Reverse Mortgage Services of Texas for calculations showing exactly how waiting would change your proceeds. Fixed Rate vs. Adjustable Rate Once you meet age requirements, choose your loan structure: Fixed Rate: Locked interest rate Lump sum only Slightly higher rates Adjustable Rate (Usually Better): Lower starting rates Choose lump sum, monthly payments, or line of credit Line of credit grows over time Only pay interest on borrowed amounts Most borrowers benefit from adjustable rates with lines of credit. Quick Qualification Checklist Beyond age, you need: ✓ Home as your primary residence ✓ At least 60% equity (varies by age) ✓ Current on property taxes and insurance ✓ Property in decent condition ✓ Completed HUD-approved counseling Common Age-Related Questions Q: Can my 40-year-old daughter be on the loan with me? NO: Q: My spouse isn't on the deed. Can I still get a reverse mortgage? YES: if you refinance your reverse you can add him or her to the loan. Both spouses must be 62+ to qualify. Q: Can I outlive the reverse mortgage? A: No! As long as you live in the home and maintain obligations, the loan never comes due. Making Age Work for You The older you are, the more favorable the terms—but don't wait if you have pressing needs now. The key is balancing immediate financial requirements against potential benefits of waiting. Next Steps Determine if you meet the age requirement (62 for HECM and jumbo) Get personalized calculations for your age and property value Complete HUD-approved counseling Compare multiple lenders Discuss plans with family Want to know exactly how much you could access at your age? Contact Robb @ 469-450-8005 with Reverse Mortgage Services of Texas or email him @ reversemortgageservicesoftexas.com for personalized calculations and expert guidance.