How this mortgage path is commonly used
A reverse mortgage allows an eligible older homeowner to access a portion of home equity without required monthly principal-and-interest payments, while taxes, insurance, maintenance, and occupancy obligations continue.
Potential features
- Potential access to home equity
- Several proceeds structures may be available
- Existing mortgage balances may be paid at closing
- Borrower retains title subject to loan obligations
Important considerations
- Balance generally grows over time
- Taxes, insurance, maintenance, and occupancy remain required
- Counseling may be required
- Estate and long-term housing plans should be reviewed
Common starting points
Eligible older homeownersHouseholds evaluating retirement cash flowBorrowers planning to remain in the home
A practical way to evaluate your options
01
Define the goal
Purchase, refinance, build, invest, or use equity.
02
Review the full payment
Include taxes, insurance, mortgage insurance, and association dues.
03
Prepare the profile
Income, assets, credit, property, and occupancy all shape available paths.
04
Complete underwriting
Only a complete application and underwriting can establish approval and terms.
Educational information, not a commitment to lend
Program availability, guidelines, pricing, and documentation requirements can change. Contact duPont Lending for information specific to your scenario.