Reverse mortgages provide homeowners age 62 and older with ways to access home equity without monthly payments. Learn how these loans work in the current market and what to consider before applying. Contact a professional for personalized advice on whether this option fits your retirement plans.
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 New Options for Retirees
July 6, 2026
Many homeowners reach retirement with significant equity in their homes but limited cash flow. Reverse mortgages allow seniors to convert that equity into usable funds. These loans have gained attention as retirees seek flexible financial solutions. They differ from traditional mortgages in important ways.
A reverse mortgage lets eligible borrowers receive payments based on their home's value. The homeowner retains title and continues to live in the property. No monthly mortgage payments are required as long as the home remains the primary residence. Interest accrues over time and is repaid when the loan ends. This structure appeals to those who want to stay in their homes without selling.
Eligibility typically requires the borrower to be at least 62 years old. The home must meet certain standards and serve as the main residence. Lenders evaluate the property value and the borrower's age to determine available funds. Counseling from an approved advisor is mandatory before closing. These steps help ensure borrowers understand the long-term costs involved.
For sellers or family members planning estates, reverse mortgages can affect inheritance. The loan balance grows with interest and fees, reducing equity over time. Homeowners should discuss these outcomes with heirs early. Market conditions influence how much equity can be accessed at any given moment. Professional guidance helps weigh the tradeoffs against other retirement strategies.
Reverse mortgages provide one path to financial flexibility in retirement. They require careful review of terms and personal goals. Borrowers benefit from clear information before moving forward.