reverse mortgage
noun
: a mortgage that allows an elderly person to convert home equity into available funds through a line of credit, cash advance, or periodic disbursements to be repaid with interest usually when the borrower dies, moves, or sells the home
Examples of reverse mortgage in a Sentence
Recent Examples on the Web
The property is in foreclosure and burdened by a reverse mortgage, which has hampered efforts to find a new owner to restore and preserve the house, Miller said.
—
Robert Channick, Chicago Tribune, 5 Mar. 2025
Types of loans Conventional, FHA, VA, USDA, Arrive Home, Zero Down, jumbo, renovation, refinancing, reverse mortgages, home equity loans
Terms
10 to 30 years
Credit needed
540 for FHA, VA and USDA loans; 600 for Zero Down; 620 for conventional loans, 680 for jumbo loans.
—Kelsey Neubauer, CNBC, 28 Feb. 2025
How does proprietary reverse mortgage for purchase work?
—Gabriel O Rodriguez, Sacramento Bee, 26 Feb. 2025
The process of buying a home with a proprietary reverse mortgage, often called a jumbo reverse mortgage, is similar to the HECM for Purchase program.
—Gabriel O Rodriguez, Sacramento Bee, 26 Feb. 2025
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Robert Channick, Chicago Tribune, 5 Mar. 2025
Types of loans Conventional, FHA, VA, USDA, Arrive Home, Zero Down, jumbo, renovation, refinancing, reverse mortgages, home equity loans
Terms
10 to 30 years
Credit needed
540 for FHA, VA and USDA loans; 600 for Zero Down; 620 for conventional loans, 680 for jumbo loans.
—Kelsey Neubauer, CNBC, 28 Feb. 2025
How does proprietary reverse mortgage for purchase work?
—Gabriel O Rodriguez, Sacramento Bee, 26 Feb. 2025
The process of buying a home with a proprietary reverse mortgage, often called a jumbo reverse mortgage, is similar to the HECM for Purchase program.
—Gabriel O Rodriguez, Sacramento Bee, 26 Feb. 2025
See All Example Sentences for reverse mortgage
Cite this Entry
“Reverse mortgage.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/reverse%20mortgage. Accessed 25 Mar. 2025.
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