Reverse Mortgage Eligibility


The following are properties that are eligible for the Reverse Mortgage:

  • Manufactured homes, double-wide and triple-wide. Each of these contains a HUD seal and may require structural engineer support.
  • Modular homes are built in the sections at the factory and are assembled on-site. They are treated as stick-built.
  • Single-family homes. Only one dwelling unit, only one primary kitchen, and has a main front door entry.
  • 2-4 unit properties. Contains two to four living units. The borrower must occupy one of the units. Appraisals use form 1025 which is the residential income property form.
  • PUD, or planned unit development. Common areas are managed by an HOA and overall costs are divided between owners.
  • Town Home. This is a home sharing common walls and they have ownership of the land on which they sit.
  • Condominiums. Owners hold title units legal descriptions not construction type and must be on FHA approved project list.


The following are properties that are not eligible for the Reverse Mortgage:

  • Mobile homes. Mobile homes may have wheels and many are not permanently attached. Mobile homes maybe tax separately as personal property and not as real property.
  • Commercial properties
  • Co-Ops
  • Non-FHA approved Condominiums