Glossary · Financing
What is Reverse mortgage?
A reverse mortgage lets older homeowners borrow against their equity without monthly payments, repaid when they sell or move.
Definition
Designed for older homeowners, a reverse mortgage converts home equity into cash without requiring regular payments. The loan, plus interest, is repaid when the home is sold or the owner moves.
It can supplement retirement income, but it reduces the equity you leave behind, so it's important to understand the long-term trade-offs.
When reverse mortgage matters
- Supplementing retirement income
- Accessing equity without monthly payments
- Aging in place
With Homeprint
How Homeprint helps with reverse mortgage
Homeprint helps you track your equity and home value to inform decisions about your retirement and finances.
- Keep every related document in one secure place
- Track your home's value and finances over time
- Stay connected with trusted neighbourhood experts
Reverse mortgage — FAQ
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