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Refinancing a Reverse Mortgage

Is it possible to refinance a reverse mortgage if a better opportunity becomes available or if a person’s financial situation changes?

Refinancing a reverse mortgage is possible but is important to weigh the benefits against the costs of originating another loan. A general rule of thumb is that the amount of money you will receive should be five times the amount of the cost to refinance the mortgage. Refinancing a reverse mortgage typically is only worth considering when a home has significantly increased in value, the FHA loan limit for the area has been raised.

Please keep in mind that the reverse mortgage industry in constantly changing and some of the information contained on this site may not be current. Please ask a licensed reverse mortgage professional for up-to-date guidelines.

Call Toll Free to Learn More about reverse mortgage financing – (855) 367-4326

Learn more about how people are using home equity conversion mortgages for purchasing homes:

Please keep in mind that the reverse mortgage industry is constantly changing and some of the information contained on this site may not be current. Please ask a licensed reverse mortgage professional for up-to-date guidelines.