How to Know If You Qualify for a Reverse Mortgage -- Simple Steps That Matter

Have you ever wondered whether a reverse mortgage could help you pay bills, cover home repairs, or boost your monthly income — without losing your home? In this episode I break down the three clear rules that matter: age, how much equity you have, and a basic financial check. I’ll use real examples and plain language so you can hear exactly where you stand and what next steps look like.What You'll LearnThe single age rule that matters: who must be 62 or older and what happens if a spouse is younger.How we measure equity and why having 50–70% equity usually matters.How a reverse mortgage can pay off an existing loan and still free up monthly cash.What the financial assessment covers: credit, paying taxes and insurance, and residual income.How loan proceeds or a line of credit count as income for qualification.Options if you don’t qualify today (wait, increase equity, or consider proprietary loans).The reverse mortgage for purchase: how it can let you buy a new home without monthly mortgage payments.Real examples that show common outcomes for homeowners in their 60s, 70s, and beyond.If you want a clear answer about whether a reverse mortgage is right for you, this episode gives it in plain English. You’ll walk away knowing the three things lenders look at, what you can do now to improve your chances, and how a reverse mortgage could ease monthly expenses or let you move to a home that fits your retirement. Tune in to get specific examples, quick calculators you can use in your head, and the exact next steps you can take after the show.