Reverse Mortgage Age Requirements
Every borrower on a HECM must be at least 62 by the closing date, and there is no maximum age. A spouse under 62 can be a non-borrowing spouse, and the rules for that spouse matter later.
Quick answer
Saxton Mortgage offers HECMs. Every borrower must meet the HECM minimum age at the time of closing, and the lender verifies each birth date from a source such as a driver’s license, passport or birth certificate. You may apply up to 6 months before you reach the minimum age, but you cannot sign closing documents until you meet it.
Eligible or ineligible spouse
When a borrower is married to someone who is not on the loan, FHA treats that spouse as eligible or ineligible. An eligible non-borrowing spouse must meet the first three conditions below.
- Married to the borrower at closing, and still married for the rest of the borrower’s life.
- Disclosed to the lender at origination and named as a non-borrowing spouse in the HECM documents.
- Living in the home as their principal residence, and continuing to live there.
- A spouse who is married to the borrower but does not live in the home is an ineligible non-borrowing spouse.
- An eligible spouse cannot choose to be ineligible, and becomes ineligible when any of these conditions stops being met.
- After a divorce, the former spouse is no longer eligible for a deferral period.
Married at closing and after
Named in the loan papers
Living in the home
Living elsewhere means ineligible
Eligibility can be lost
Divorce ends eligibility
How The Age Rules Work
FHA sets the age rule for the HECM. Every borrower must be at least 62 as of the closing date, and there is no maximum age limit.
Before you pay any charges, the lender must check that every borrower will be at least 62 by closing. If not, the lender must tell you in writing and stop processing the application. The lender must have proof of age for every borrower and any non-borrowing spouse.
Age also helps set how much you can receive. The amount is based on the age of the youngest borrower or eligible non-borrowing spouse, rounded up to the next whole year if the next birthday is less than 183 days after closing. If an eligible non-borrowing spouse is younger than the borrower, the spouse’s age is used. For example, with a borrower who is 62 and an eligible non-borrowing spouse who is 55, the amount is based on age 55. The age of an ineligible non-borrowing spouse is not used.
A non-borrowing spouse does not have to be 62. At application, the lender verifies the name and age of any non-borrowing spouse and decides whether that spouse is eligible or ineligible. Every non-borrowing spouse, eligible or ineligible, must attend HECM counseling with the borrower. For the other things the lender reviews, see our reverse mortgage requirements page.
Why the spouse rules matter
This page is for homeowners 62 and older, couples where one spouse is younger, and the adult children helping them.
A Deferral Period For Spouses
If an eligible non-borrowing spouse was named at closing and stayed eligible, the loan automatically enters a deferral period when the last surviving borrower dies. During it, the loan’s due and payable status is put off.
Deferral Has Conditions
The spouse must keep meeting every qualifying condition, and all other obligations of the loan must still be met. If any requirement stops being met, the deferral period ends and the loan is called due and payable.
No New Money During Deferral
During a deferral period, no further loan money is paid out, so property charges are not paid from the loan. If a property charge is missed, the deferral period ends unless it is cured within 30 days.
Yearly Spouse Certification
A borrower who named an eligible non-borrowing spouse at origination must certify each year that the spouse still meets the qualifying conditions.
No Takeover By Refinance
A HECM is not assumable. A surviving eligible spouse who wants their own HECM on the home cannot get it as a HECM refinance. It must be a traditional HECM, and the spouse must meet every borrower requirement, including age.
Others On Title Can Stay
A non-borrowing spouse and other non-borrowing owners can stay on title. Everyone on title must attend counseling and sign the security instrument that pledges the home.
Hear From Homeowners Like You
Frequently Asked Questions
Questions families ask about age and spouses.
Saxton Mortgage offers HECMs. Every borrower must meet the HECM minimum age at the time of closing, and the lender verifies each birth date from a source such as a driver’s license, passport or birth certificate. You may apply up to 6 months before you reach the minimum age, but you cannot sign closing documents until you meet it.
At closing. Every borrower must be at least 62 as of the closing date. Before you pay any charges, the lender must check that every borrower will be at least 62 by closing.
No. FHA sets no maximum age limit for a HECM borrower.
Yes. A non-borrowing spouse does not have to be 62. A spouse under 62 can be on the HECM as a non-borrowing spouse, as long as the borrower is at least 62.
It can. If your spouse is an eligible non-borrowing spouse and is younger than you, the amount is based on your spouse’s age. The age of an ineligible non-borrowing spouse is not used to set the amount.
If your spouse was named as an eligible non-borrowing spouse at closing and stayed eligible, the loan enters a deferral period. The deferral lasts only while every condition keeps being met, and no further loan money is available during it. Without a deferral period, the loan becomes due and payable when no surviving borrower lives in the home.
No. A HECM is not assumable. A surviving eligible spouse who wants a HECM on the home cannot get it as a HECM refinance. It must be a traditional HECM, and the spouse must meet every borrower requirement, including being at least 62 by closing.
Yes. Every non-borrowing spouse, eligible or ineligible, must attend HECM counseling with the borrower and sign the counseling certificate. Anyone else on title must attend counseling too.
Find out what you qualify for
Tell us about your home, who lives there, and what you want the money to do, and we will walk you through how the age and spouse rules apply.
Get Pre-Qualified- U.S. Department of Housing and Urban Development, FHA and housing resources
- U.S. Department of Housing and Urban Development, FHA mortgage insurance premiums
Loan amounts, rates, terms, and eligibility are subject to credit approval, asset and income verification, appraisal, and program guidelines. Program availability varies by state. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.