You are able to apply for a reverse mortgage once the youngest borrower is 62 years old. How much money you qualify depends upon your age; the older you are, the more you will receive. Also, if you have a significant mortgage currently on your home, this may affect your qualification status because you may be less likely to be able to pay off your current mortgage with your reverse mortgage funds.

To get more of your questions answered, please contact on of our Professionals here at AAG. They are experts in their field who can help you through this process.

Disclaimer: The response above is not intended to be anything other than the educated opinion of the author. It should not be relied upon as financial advice. America Advisors Group recommends speaking directly with an AAG Reverse Mortgage Professional regarding your specific situation and needs. Please call 1 (800) 466-0572 to receive AAG's information pack with a FREE DVD and Brochure featuring Former Senator Fred Thompson.