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
Many North Carolina students return to class for first time since Helene
Is a reverse mortgage or home equity loan better for seniors?
—
Megan Cerullo, CBS News, 25 Oct. 2024
Politics How to vote in California’s Nov. 5 election
Oct. 3, 2024
More recently, Garvey has returned to the mortgage industry to boost an Orange County company that sells reverse mortgages and educates real estate agents on how to sell them to their clients.
—Laura J. Nelson, Los Angeles Times, 7 Oct. 2024
Borrowers don’t have to make payments on reverse mortgages while living in the house.
—Kelsey Neubauer, CNBC, 23 Sep. 2024
Types of loans Conventional, FHA, VA, USDA, Arrive Home, Zero Down, jumbo, construction, refinancing, reverse mortgages
Terms
15 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, 9 Aug. 2024
See all Example Sentences for reverse mortgage 
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Megan Cerullo, CBS News, 25 Oct. 2024
Politics How to vote in California’s Nov. 5 election
Oct. 3, 2024
More recently, Garvey has returned to the mortgage industry to boost an Orange County company that sells reverse mortgages and educates real estate agents on how to sell them to their clients.
—Laura J. Nelson, Los Angeles Times, 7 Oct. 2024
Borrowers don’t have to make payments on reverse mortgages while living in the house.
—Kelsey Neubauer, CNBC, 23 Sep. 2024
Types of loans Conventional, FHA, VA, USDA, Arrive Home, Zero Down, jumbo, construction, refinancing, reverse mortgages
Terms
15 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, 9 Aug. 2024
See all Example Sentences for reverse mortgage
Dictionary Entries Near reverse mortgage
Cite this Entry
“Reverse mortgage.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/reverse%20mortgage. Accessed 5 Nov. 2024.
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