No Monthly Payments
Unlike a traditional mortgage or home equity loan, a reverse mortgage requires no monthly mortgage payments for as long as you live in your home.
HECM & Proprietary Reverse Loans
Reverse Mortgage Loans
You've spent decades building equity in your home. Now let it work for you. Access tax-free cash without monthly mortgage payments — and stay in the home you love.
62+Minimum Age Required
$0Monthly Payments Required
FHAGovernment-Insured HECM
StayIn Your Home for Life
What Is a Reverse Mortgage?
Your Home Equity,
Your Home Equity,
Working for You
A reverse mortgage is a type of home loan available to homeowners who are 62 years or older. With a reverse mortgage, homeowners can convert a portion of their home equity into cash — without selling their home or making monthly mortgage payments.
Unlike traditional home loans, the loan is not repaid until the borrower no longer uses the home as their primary residence — whether that's due to moving, selling, or passing away. The most common type is the Home Equity Conversion Mortgage (HECM), which is insured by the FHA and backed by the federal government.
Reverse mortgages can be used to supplement retirement income, pay off existing debt, cover healthcare costs, or handle unexpected expenses — giving you financial flexibility in your retirement years.
Who This Is For
A reverse mortgage may be the right solution if any of the following apply:
Homeowners 62 or OlderYou've built significant equity and want to access it without selling or moving.
Supplementing Retirement IncomeSocial Security and savings aren't enough — your home equity can fill the gap.
Covering Healthcare CostsUse your equity to pay for medical bills, in-home care, or modifications to stay comfortable at home.
Eliminating Monthly Mortgage PaymentsPay off your existing mortgage and remove that monthly obligation from your budget entirely.
Why a Reverse Mortgage
The Benefits of
The Benefits of
Unlocking Your Equity
Stay in Your Home
You retain full ownership and can continue living in your home for life. The loan only becomes due when you move out, sell, or the last borrower passes away.
Government-Insured
Most reverse mortgages are FHA-insured HECMs, which means you and your heirs are protected — you'll never owe more than the home is worth.
Tax-Free Proceeds
Funds received from a reverse mortgage are generally not considered taxable income, allowing you to keep more of what you access.
Flexible Payout Options
Receive funds as a lump sum, monthly payments, a line of credit, or a combination — tailored to your retirement income needs.
Growing Line of Credit
An unused line of credit grows over time, meaning the longer you wait to use it, the more you'll have available — a powerful retirement planning tool.
How You Get PaidChoose Your
Choose Your
Payout Option
Line of Credit
Access funds as needed — like a credit card backed by your home equity. Unused amounts grow over time, giving you more borrowing power the longer you wait. Ideal for managing unexpected expenses.
Monthly Payments
Receive a fixed monthly payment for as long as you live in the home (tenure) or for a set number of years (term). Perfect for supplementing Social Security or pension income on a predictable schedule.
Lump Sum
Receive all available equity in one upfront payment. Best for paying off an existing mortgage, covering a large expense, or eliminating high-interest debt immediately.
Combination
Mix and match — take a partial lump sum at closing, set up monthly payments for steady income, and keep a line of credit for emergencies. Most borrowers choose this approach for maximum flexibility.
Do You Qualify?Reverse Mortgage
Reverse Mortgage
Requirements
Basic Requirements
Age 62 or OlderAt least one borrower must be 62 years of age or older. The older you are, the more equity you can access.
Primary ResidenceThe home must be your primary residence — not a vacation home or investment property.
Sufficient Home EquityYou must have significant equity in your home — typically 50% or more. The more equity, the more cash you can access.
Financial AssessmentLenders verify you can continue paying property taxes, homeowner's insurance, and maintenance costs.
HUD CounselingFederal law requires you complete a HUD-approved counseling session before proceeding — protecting your interests.
Eligible Property Types
Single-Family HomesThe most common property type for reverse mortgages — all eligible.
FHA-Approved CondosCondominiums in FHA-approved complexes qualify. Non-approved condos may qualify under HECM for Purchase.
2–4 Unit PropertiesMulti-family homes qualify as long as you occupy one unit as your primary residence.
Manufactured HomesHUD-approved manufactured homes built after June 1976 may be eligible.
Not sure if you qualify? Stevenson can walk you through a no-obligation review of your home value, equity position, and payout options in a single conversation.
Side by SideReverse Mortgage vs.
Reverse Mortgage vs.
Traditional Options
| Feature | Reverse Mortgage | Home Equity Loan / HELOC |
|---|---|---|
| Monthly Payments | ✔ None Required | ✘ Required Monthly |
| Minimum Age | 62 years old | No age requirement |
| Repayment Trigger | Move out, sell, or pass away | Immediate monthly repayment |
| Stay in Home | ✔ For Life | ✔ Yes |
| Government Insured | ✔ FHA-Insured HECM | ✘ Not Insured |
| Non-Recourse Protection | ✔ Never Owe More Than Home Value | ✘ Full Repayment Required |
| Payout Flexibility | Lump sum, monthly, line of credit | Lump sum or draw as needed |
| Best For | Retirees 62+ with significant equity | Borrowers with income for payments |
How It WorksYour Path to
Your Path to
Financial Freedom
Free Consultation
Stevenson reviews your home value, equity position, and retirement goals to explain exactly what you could receive.
HUD Counseling
Complete a required HUD-approved counseling session — an independent safeguard to ensure you fully understand your options.
Application & Appraisal
We process your application and order a home appraisal to determine the exact loan amount you qualify for.
Close & Access Funds
After closing, your funds are available within 3 business days. Start your retirement on your own terms.
Common QuestionsReverse Mortgage
Reverse Mortgage
FAQ
What is a reverse mortgage and how does it work?
A reverse mortgage lets homeowners 62+ convert home equity into tax-free cash without selling or making monthly payments. Instead of you paying the lender, the lender pays you — and the loan is repaid when you move, sell, or pass away.
Do I have to make monthly payments on a reverse mortgage?
No. A reverse mortgage requires zero monthly mortgage payments for as long as you live in your home as your primary residence. You only need to keep up with property taxes, homeowner's insurance, and basic maintenance.
Will I still own my home with a reverse mortgage?
Yes. You retain full title and ownership of your home. The reverse mortgage is simply a lien against the property, just like a traditional mortgage. You can stay in your home for as long as it remains your primary residence.
What happens to the loan when I pass away?
When the last borrower passes away or permanently leaves the home, the loan becomes due. Your heirs can repay the loan and keep the home, sell the home to repay the loan and keep any remaining equity, or walk away with no personal liability — the FHA insurance covers any shortfall if the home is worth less than the loan balance.
How much money can I get from a reverse mortgage?
The amount depends on your age, the home's appraised value, and current interest rates. The older you are and the more equity you have, the more you can access. In 2024, the FHA HECM loan limit is $1,149,825. Call Stevenson for a free personalized calculation.
Is a reverse mortgage a good idea?
A reverse mortgage can be an excellent retirement tool for homeowners with significant equity who want to stay in their home, eliminate monthly mortgage payments, or supplement retirement income — but it isn't right for everyone. Stevenson will walk you through a no-pressure review of your situation so you can make a fully informed decision.
Ready to Find Out More?
You've Earned This.
You've Earned This.
Let Your Home Pay You Back.
Decades of mortgage payments built the equity in your home. A reverse mortgage lets you access that wealth — on your schedule, with no monthly payments, while you stay in the home you love. Stevenson serves homeowners across Georgia.