Ask The Expert: Does my current income determine my ability to secure a Reverse Mortgage?

posted by: Mark Schmidt Reverse Mortgage Specialist (773) 504-9633

No - income is not a consideration for qualifying for a reverse mortgage.  This is one of the ways a reverse mortgage is different from other loans.  Since no payments are required, it doesn't matter how much (or little) income you receive each month.  Likewise, your credit score is not used to qualify you for a reverse mortgage.

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