FAQ’s About Reverse Mortgages Idaho | Northwest Reverse Mortgage
What if I am under 62 & disabled?
The application legally authorizes the lender to begin the application process but the lender cannot incur any costs on your behalf until Step 2 (counseling) is completed. The application is not binding and can be canceled at any point during the process. The application will specify the reverse mortgage fees, interest rates, and loan amounts.
Can someone qualify if they already have a mortgage?
Does everyone over 62 qualify?
Any borrower aged 62 or older with a property to refinance or purchase qualifies for a reverse mortgage. Your age determines how much you will qualify for, and the older you are the more you qualify for.