Reverse Mortgage Age Requirements: What Seniors Need to Know

Understanding the reverse mortgage age requirement is essential for homeowners considering this financial option. At Reverse Mortgage Guides, we help you navigate the rules around reverse mortgage eligibility age, including the minimum age to qualify for reverse mortgage, how age affects loan amounts, and what happens if your spouse is under 62.

What Is the Minimum Age to Get a Reverse Mortgage?

The minimum age requirement for reverse mortgage loans is 62 years old. This applies to the most common type of reverse mortgage—the Home Equity Conversion Mortgage (HECM), which is insured by the federal government [1].

If you're wondering about the youngest age for reverse mortgage, the answer is clear: you must be at least 62. This is often referred to as the reverse mortgage age minimum, and it’s a non-negotiable eligibility factor.

Reverse Mortgage for Seniors 62 and Older

A reverse mortgage for seniors 62 and older allows eligible homeowners to convert part of their home equity into cash. This is sometimes called a 62 mortgage, and it’s designed to support retirement income, home improvements, or paying off existing debt.

The reverse mortgage age 62 rule ensures that borrowers are at a stage in life where they can benefit from the financial flexibility this loan provides.

Reverse Mortgage LTV by Age

The amount you can borrow—known as the loan-to-value (LTV) ratio—depends heavily on your age. Generally, the older you are, the more you can borrow. This is referred to as reverse mortgage LTV by age [1].

For example:

• A 62-year-old may qualify for around 40–50% of their home’s value.
• A 75-year-old may qualify for 60–70%, depending on interest rates and home value.

Use our reverse mortgage calculator to estimate your potential loan amount based on your age.

Reverse Mortgage Age Limit & Maximum Age

There is no maximum age for reverse mortgage eligibility. In fact, older borrowers often receive higher loan amounts. While there’s a reverse mortgage age limit on the lower end (62), seniors well into their 80s and 90s can still qualify and benefit from this program.

Reverse Mortgage Before 62: Is It Possible?

Unfortunately, reverse mortgage before 62 is not allowed under current federal guidelines. If you're exploring reverse mortgage for people under 62, you may need to consider alternatives such as:

• Home equity loans
• HELOCs
• Downsizing or selling the home

Reverse Mortgage Spouse Under 62

If one spouse is under 62, you can still apply for a reverse mortgage, but the younger spouse must be listed as a non-borrowing spouse. This affects loan terms and protections. The reverse mortgage age requirement spouse rule ensures that the younger spouse can remain in the home after the older spouse passes away, under certain conditions [1].

Age to Qualify for a Reverse Mortgage

To summarize:

• Age to get a reverse mortgage: 62+
• Minimum age to get a reverse mortgage: 62
• Reverse mortgage under 62: Not eligible
• Reverse mortgage age restrictions: Must meet age and equity requirements