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Do I have to be a US citizen to get a reverse mortgage on a home in the US
Do I have to be a US citizen to get a reverse mortgage on a home in the US?
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1 Reply
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No, a reverse mortgage doesn’t need to be taken by a person having citizenship in the United States, but he must be its legal resident. One should be at least 62 years of age, and the property you own should be free from any mortgage, or if there is any, then the balance should also be low; moreover, this property must be your main place of living. Usually, permanent residents with valid social security numbers and proof of residency can apply for reverse mortgages; however, sometimes, non-citizen borrowers might need extra papers to support their application.