Reverse mortgages provide seniors with ways to tap home equity without monthly payments. Learn how these loans work and whether they fit current housing conditions. Contact a loan officer to explore options suited to your situation.
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 Seniors Flexible Home Equity Access
July 22, 2026
Many homeowners over 62 look for ways to stay in their homes while gaining access to cash. Reverse mortgages allow them to convert home equity into funds without selling the property. These loans differ from traditional mortgages because repayment happens later, often after the borrower moves or passes away. Understanding the basics helps families make informed choices.
A reverse mortgage converts part of the home's value into cash advances. Borrowers receive money as a lump sum, monthly payments, or a line of credit. The home serves as collateral, and no monthly mortgage payments are required while the borrower lives there. Interest accrues over time and adds to the loan balance. Lenders typically require the property to meet certain standards before approval.
Eligibility centers on age, home ownership, and residency requirements. The borrower must occupy the home as a primary residence. Counseling from an approved advisor is mandatory to ensure full understanding of the terms. Property taxes and insurance must stay current throughout the loan. These steps protect both the homeowner and the lender from future complications.
Current market conditions with elevated rates influence how these loans perform for new borrowers. Higher rates can reduce the amount available upfront compared to lower rate periods. Seniors weighing this option should consider long term plans for the home and family involvement. Discussing inheritance goals with heirs often clarifies whether a reverse mortgage aligns with overall estate plans. Local market trends also affect home values that determine available equity.
Reverse mortgages remain a practical tool for many older homeowners seeking financial flexibility. Careful review of terms and personal goals leads to better decisions. Professional guidance clarifies the details for each situation.