05/13/2026
A reverse mortgage can be a powerful way to create flexibility in retirement—but like any financial option, it’s important to understand both the benefits and the tradeoffs.
What to know:
• No required monthly mortgage payments*
• Access to home equity for cash flow, emergencies, or future needs
• You retain ownership and control of your home
*Important to remember:
• Borrowers must continue to pay property taxes, homeowners insurance, and maintain the home
Things to consider:
• Loan balance increases over time (unless voluntary prepayments are made)
• Using equity may reduce what’s left for heirs
• Upfront costs may be higher than traditional loans
• Existing mortgage must be paid off (HECM proceeds can be used at closing)
Bottom line: It’s not a one-size-fits-all solution—but in the right situation, it can be a valuable part of a retirement strategy.
Have questions? A Fairway retirement mortgage specialist can help you explore your options.
