What can a reverse mortgage be used for?

After you receive the tax-free funds from your reverse mortgage, it is up to you to use them however you please. Some retirees choose a reverse mortgage to have peace of mind and others want to improve their quality of life.

Common uses for reverse mortgages (AARP and HUD survey)

  • Healthcare Costs
  • Repay Existing Mortgages
  • Reduce Burden on Children
  • Home Repair & Improvement
  • Pay Property Taxes
  • Daily Expenses
  • Travel or Somthing Special
  • Gifts
  • 67%
  • 55%
  • 50%
  • 50%
  • 38%
  • 29%
  • 14%
  • 3%