Eligibility & Qualifying· October 27, 2023Do Both Spouses Have to Be 62 to Get a Reverse Mortgage?Explains how the age rule works for married couples. At least one borrower must be 62 or older. A younger spouse can be a 'non-borrowing spouse,' which carries important federal protections that may allow them to remain in the home, though it can affect how much you qualify for. Getting this set up correctly protects both spouses.Presented by Miguel A. VazquezCalifornia Reverse Mortgage Specialist · NMLS #401212 · 20+ years experience Licensed CA BrokerAskInstant answers pulled from our guides · not personalized adviceDo Both Spouses Have to Be 62 to Get a Reverse Mortgage?Video TranscriptIn this video we talk about the age requirements for married couples trying to do a reverse mortgage. Many of our clients have asked if both married borrowers have to be 62 years old to do a reverse mortgage. The answer is NO: both married borrowers do not have to be 62 years or older to be in the program. As long as at least one of the spouses is 62 or older, you can be considered. If the other spouse is under 62, they can generally be listed as an eligible non-borrowing spouse — a status that carries important protections that may allow them to remain in the home, though it can affect how much you qualify for. Every situation is different, so it's worth reviewing your specific case.What You'll Learn1At least one borrower must be 62 or older2A younger spouse can be a non-borrowing spouse3Non-borrowing spouse protections may apply4Can affect the amount availableMore Eligibility & Qualifying videosTypes of Homes That Qualify for a Reverse MortgageIs a Reverse Mortgage Right for You?Is a Reverse Mortgage the Right Choice for You?Browse the full video library.Read the full guideHow to Qualify for a Reverse MortgageReverse Mortgage Age RequirementsCan You Get a Reverse Mortgage at 55 or 60? Age Rules ExplainedHave a question about your situation?Miguel answers any reverse mortgage question — no pressure, no obligation. Serving all of California in English and Spanish.Talk to an Advisor Call (562) 881-9811
