You can get a reverse mortgage annuity if:

Question

Quizplus · Accepted Answer

To be eligible for a reverse mortgage annuity, the mortgage on the property must be largely or completely paid off. This is because the reverse mortgage annuity is based on the equity in the home, which is the difference between the current value of the property and the outstanding mortgage balance. Therefore, having a low mortgage balance or owning the property outright is necessary in order to receive a significant reverse mortgage annuity payment. The other options (A, B, D, E) are not accurate as they either involve selling the house or incurring additional debt, which are not requirements or benefits of a reverse mortgage annuity.

You Can Get a Reverse Mortgage Annuity If