Quick Answer
Veterans 62 and older can use an FHA-insured HECM reverse mortgage just like other homeowners, and many are strong candidates after building decades of equity. Note that the VA does not offer a reverse mortgage product, and unlike a VA purchase loan, the HECM charges an FHA mortgage insurance premium. Service-connected disability benefits and the home's VA-loan history do not disqualify you.
Is There a Special VA Reverse Mortgage?
The VA does not currently offer a reverse mortgage product. However, veterans who meet standard eligibility requirements (age 62+, primary residence, sufficient equity) can access the same FHA HECM reverse mortgage available to all senior homeowners. There is no special veteran-only program, but veterans often make excellent candidates due to decades of homeownership.
VA Loan and Reverse Mortgage: Can You Have Both?
Not simultaneously. If you currently have a VA loan on your home, the reverse mortgage will pay it off at closing. You will no longer have a VA loan — it will be replaced by the reverse mortgage. Your VA loan eligibility may be restored for future use on other properties.
Does a Reverse Mortgage Affect VA Benefits?
No. Reverse mortgage proceeds do not affect VA disability compensation, VA pension, or VA healthcare benefits. These federal benefits have their own eligibility rules that are not income-based in the same way as Medicaid. However, large cash accumulations could theoretically affect means-tested VA benefits — consult a VA benefits advisor if relevant.
How Veterans Often Use Reverse Mortgages
Many veteran homeowners use reverse mortgage proceeds to supplement VA disability compensation or military pensions, fund home modifications for service-related disabilities (ramps, bathrooms, lifts), cover medical costs not covered by VA healthcare, or simply enjoy a well-earned retirement without financial stress.
Military Communities and Reverse Mortgages
Reverse Mortgage Plus has deep experience serving military communities in California — particularly in San Diego (Navy, Marine Corps), Riverside County (March Air Reserve Base), and Los Angeles County. Our advisors understand the unique financial situations of veterans and are committed to serving those who served.
Aid and Attendance and Reverse Mortgages
The VA's Aid and Attendance pension benefit helps fund in-home care for qualifying veterans. A reverse mortgage can supplement Aid and Attendance to cover caregiving costs that exceed the benefit amount. These two programs work well together for veterans who need additional care funding.
