Is a reverse mortgage right for you?
Three questions that tell you most of what you need to know
JP Dauber, NMLS# 386298
Reverse Mortgage Specialist
Last updated March 15, 2026
Start with three questions
Do you want to stay in your home?
If yes, a reverse mortgage keeps you there with no payments. If you're ready to move, selling — or selling and using a HECM for Purchase — might be a better path.
Can you cover ongoing costs?
A HECM eliminates your mortgage payment, but you still need to pay property taxes, insurance, and basic upkeep. If those are already a struggle, a reverse mortgage delays the problem — it doesn't fix it.
What problem are you solving?
The people who benefit most have a clear reason — eliminate a payment, create a safety net, fund home upgrades, supplement retirement income. If you can't name the problem it solves, it may not be the right time.
Signs it's a good fit
You plan to stay 5+ years
Ideally 10+. The upfront costs need time to pay off, and the longer you stay, the more value you get.
Lots of equity, limited income
You're house-rich and cash-flow-poor. That's exactly what the HECM was designed for.
Eliminating a payment changes things
If dropping a $1,000–$3,000/month mortgage payment would meaningfully improve your budget, the HECM delivers that on day one.
You want a growing safety net
The HECM line of credit grows over time — even if you never touch it. A built-in reserve for future unknowns.
Your family is on board
The best decisions happen when everyone understands the plan — especially if heirs are involved.
You've looked at alternatives
You've considered a HELOC, a cash-out refi, and selling — and the HECM fits best.
Signs it's probably not right
Moving soon
If you plan to leave within 2–3 years, the upfront costs aren't worth it.
Can't afford taxes & insurance
If property charges are already unmanageable, a reverse mortgage won't solve the underlying problem.
Someone's rushing you
If anyone is pushing you to act fast or use the funds for a specific investment, walk away. A good decision never needs pressure.
Your next steps
If the good-fit signs ring true and the warning signs don't apply, here's a simple path forward:
1. Run the numbers
Use our HECM calculator to see what you might qualify for.
2. Talk it through
Schedule a free conversation with me. I'll review your situation honestly.
3. Complete counseling
Meet with a HUD-approved counselor for independent guidance.
4. Involve your family
Share what you've learned. The best decisions happen together.
Trust the framework, not the pressure
There's no rush. The right decision made thoughtfully beats a quick decision made under pressure. Take your time, ask questions, and make sure it truly fits your life.
Ready to explore? Start with the calculator or schedule a conversation.