Are there any instances in which a person under the age of 62 can qualify for a reverse mortgage, such as a person on SSDI?
To my knowledge there have been no revisions to the age requirements of a reverse mortgage. You can contact you lender for updates since the landscape of mortgages seem to change daily.
Peter T Siekierski
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H.I.R.E. FINANCIAL, LLC
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Reverse Mortgage Specialist
It's 62 for FHA-insured Reverse Mortgage programs, and there aren't any exceptions. However, the age could be less with a proprietary program.
Age qualifications for reverse mortgages depend on the lender. Most of them require a minimum age of 62, however I had heard of one a few years ago that was qualifing individuals at age 60 for Reverse Mortgages I'm not sure if that company is still around or offering the product anymore. The product was called Simple60.
Here's an article with more information on Reverse Mortgages: http://www.articleinsider.com/mortgage/massachusetts-mortgages/reverse-mortgages
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