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Who is eligible for a reverse mortgage?

Over 1.2 million homeowners have obtained a Home Equity Conversion Mortgage (HECM), the most common type of reverse mortgage, since the program's inception. So, **who is eligible for a reverse mortgage**? The answer depends on several key requirements, including age, home equity, and property use. This guide provides a comprehensive overview of the qualifications and details what borrowers can expect during the application process.