Reverse Mortgages
Retire in the Right Home, on Your Terms
At Choice Mortgage Group, we understand that retirement should be about comfort, not compromise. Whether you’re looking to stay in your current home or purchase a new one that better fits your lifestyle, a reverse mortgage can help you tap into the equity you’ve built — without adding a monthly mortgage payment.
What Is a Reverse Mortgage?
A reverse mortgage allows eligible homeowners to convert a portion of their home equity into tax-free cash* — with no required monthly mortgage payments. You continue to own and live in your home while receiving funds that support your goals, your independence, and your peace of mind.
We offer both HECM (Home Equity Conversion Mortgage) loans and jumbo reverse mortgages designed for higher-value properties. For those looking to purchase a new primary residence, a Reverse for Purchase option may also be available.
Who Qualifies
To be eligible for a reverse mortgage through Choice Mortgage Group, you’ll need to meet the following requirements:
- At least one borrower must be 62 years of age or older (some proprietary jumbo products may allow eligibility starting at age 55)
- The home must be your primary residence
- Substantial equity in the home is required
- Must complete a HUD-approved counseling session
- Property types include single-family homes, 2–4 unit owner-occupied homes, FHA-approved condos, or qualifying manufactured homes
Key Benefits of a Reverse Mortgage
No required monthly mortgage payments
Just maintain taxes, insurance, and upkeep
You stay on the title
And remain the homeowner
Non-recourse protection
You or your heirs will never owe more than the home’s value
Use your funds however you choose
Supplement income, cover medical costs, or purchase a new home
Flexibility to receive funds as a lump sum, monthly disbursements, line of credit — or a combination
Reverse Mortgage
for Purchase
Looking to move closer to family, reduce upkeep, or find a home that better suits your needs — without tapping into retirement savings?
Our Reverse for Purchase option helps qualified borrowers buy a new home using a combination of home equity and reverse mortgage funds. This solution allows you to “rightsize” without sacrificing cash flow or taking on a new mortgage payment.
Ready to Take the Next Step?
We’ve simplified the reverse mortgage process and are here to guide you at every turn.
* Consult with a tax advisor. Reverse mortgage proceeds may affect eligibility for need-based programs.