Reverse mortgages provide seniors with ways to tap home equity without monthly payments. Learn how these loans work in the current housing environment and whether they fit retirement plans. Contact a professional for personalized details on eligibility and options.
Holden Kellerhals, Lending Strategist
NEXA Lending
Phone: (727) 591-5591
Email: [email protected]
NMLS# 2646551
Company NMLS# 1660690
Licensed in: FL, IA
Calculations based on 30-year fixed mortgage. PMI applies when down payment is less than 20%. Bank Statement loans are considered Non-Qualified Mortgage (Non-QM) products. Qualification is based on the review of personal or business bank statements rather than tax returns. Interest rates and down payment requirements for these products may be higher than those of conventional government-backed mortgages (such as FHA, VA, or Fannie Mae/Freddie Mac loans). Not all applicants will qualify. Annual Percentage Rate (APR) is subject to increase after consummation. Advertised terms are based on a loan amounts with a 760 FICO, Loan-to-Value, and 30-year fixed/ARM rate. Monthly payments includes principal and interest only; actual payment will be higher with taxes and insurance and HOA. This is not an offer to enter into an agreement. This is not a commitment to make a loan. Not all customers will qualify. Information, rates and programs are subject to change without prior notice. All products are subject to credit and property approval. All approvals are subject to underwriting guidelines. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations may apply. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit standards, and property limits. NEXA Mortgage, LLC is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. Copyright © 2025 NEXA Mortgage, LLC NMLS#1660690. AZMB#0944059. 5559 S Sossaman Rd, Bldg #1 Ste #101, Mesa, AZ 85212, 602-344-9333. NEXA Mortgage, LLC is an Equal Housing Lender. All rights reserved.
Reverse Mortgages Offer Flexibility for Retirees Now
May 29, 2026
Many homeowners over 62 look for ways to stay in their homes while managing finances. Reverse mortgages allow them to convert equity into cash without new monthly mortgage bills. This option has gained attention as housing values hold steady in many areas. Borrowers should understand the basics before moving forward.
A reverse mortgage lets eligible seniors receive funds based on their home equity. The loan balance grows over time but requires no repayment until the borrower sells, moves out, or passes away. Lenders consider factors like age, home value, and existing mortgage balances during approval. This structure differs from traditional loans that demand regular payments from the start.
Proceeds from these loans can cover living expenses, medical costs, or home improvements. Funds arrive as a lump sum, monthly advances, or a line of credit that grows over time. Interest accrues on the amount used, and the home remains the borrower's property. Government-backed versions include consumer protections that limit fees and require counseling sessions.
Sellers and buyers in retirement markets sometimes use reverse mortgages to downsize or unlock cash for other needs. Family members may explore these products when helping parents remain independent at home. Rising home prices in recent years have increased available equity for many owners. Still, heirs should review how the loan affects future inheritance plans.
Reverse mortgages suit certain situations but require careful review of terms and long-term costs. Professional guidance helps match the product to individual goals.