A reverse mortgage allows homeowners 62+ to convert home equity into tax-free funds — with no monthly mortgage payments required.*
Get the answers you need to make a confident decision about your retirement.
A reverse mortgage is a loan that allows you to convert home equity into cash with no monthly payments.
Learn more →After closing, you can receive the funds as a lump sum, monthly payments, a line of credit, or a mix of these options.
Learn more →Our FAQ covers the essentials — from eligibility to how the loan works and your repayment options.
Learn more →You must be 62 or older, live in the home as your primary residence, have sufficient equity, and complete HUD-approved counseling.
Learn more →Mutual of Omaha holds an A+ rating from the Better Business Bureau, with over 100 years of experience. See our recent reviews.
Learn more →Learn about the safeguards built into every FHA-insured reverse mortgage to protect your home, finances, and peace of mind.
Learn more →A reverse mortgage is a specialized home loan designed for homeowners aged 62 and older that allows you to convert part of your home's equity into cash without selling your home or making monthly mortgage payments. Unlike a traditional mortgage where you pay the lender, a reverse mortgage pays you. The funds can be received as a lump sum, monthly payments, a line of credit, or a combination of these options.
You remain the owner of your home and must continue paying property taxes, homeowners' insurance, and maintenance costs.
The loan is insured by the Federal Housing Administration (FHA), which includes consumer protections such as limits on fees, mandatory counseling, and safeguards for non-borrowing spouses.
The loan balance becomes due when you sell the home, move out permanently, or pass away. At that point, the home is usually sold to repay the loan, and any remaining equity goes to you or your heirs.
To qualify for a reverse mortgage, you must meet a few key requirements.
You must be at least 62 years old to be eligible for a reverse mortgage.
The home must be your primary residence — not a vacation home or investment property.
You need sufficient equity in your home, typically 50% or more to qualify.
Eligible properties include single-family homes, FHA-approved condos, and certain manufactured homes.
You must demonstrate the ability to pay ongoing costs like property taxes, homeowners insurance, and maintenance.
Completing a HUD-approved counseling session is mandatory before applying — at no cost to you.
Getting started is easy. Our team will guide you every step of the way so you can move forward with confidence.
We begin with a brief review of your age, home type, and available equity to determine if a reverse mortgage is a suitable option for you.
A required session with an independent, third-party counselor explains your options, protections, responsibilities, and safeguards — at no cost to you.
Your reverse mortgage advisor walks you through the application, explains how much you may qualify for, and answers all of your questions.
Your home is appraised, and your application is carefully reviewed to ensure everything meets program guidelines before final approval.
You sign the final documents and confirm how you'd like to receive your funds at closing.
You confirm your payout preferences, with funds available three days after closing.
Choose the payout option that best suits your financial needs and retirement goals.
Receive all your available funds at once — ideal for large expenses or paying off an existing mortgage.
Choose fixed monthly payments for a set period or for as long as you live in your home, providing steady, predictable income.
Access funds as needed, with the added benefit that your available credit can grow over time.
These safeguards are built into every FHA-insured reverse mortgage to protect your home, your finances, and your peace of mind.
Ensures you fully understand the loan terms and make informed decisions before proceeding — provided at no cost to you.
Guarantees you or your heirs will never owe more than the home's value when the loan is repaid.
Provides security so eligible spouses can remain in the home even after the borrower passes away.
Reduces financial stress by eliminating monthly mortgage obligations — just maintain taxes, insurance, and upkeep.
Everything you need to know about reverse mortgages, eligibility, the process, and your options — all in one free downloadable guide.
Download the Guide