Is a reverse mortgage right for me?

A reverse mortgage usually fits homeowners 62+ who plan to stay in the home long-term, have significant equity, and want to eliminate a forward mortgage payment or supplement income. It rarely fits someone planning to move within a few years.

What are the downsides of a reverse mortgage?

Up-front costs are higher than a HELOC, the loan balance grows over time, and the home must remain your primary residence with property taxes and insurance paid. Heirs receive less inheritance from the home.

Resources/Financial

Honest reverse mortgage education

Reverse Mortgage Education

Honest answers about how reverse mortgages work - pros, cons, and when they fit.

The reverse mortgage (HECM) has one of the worst reputations in personal finance - most of it earned in the 1990s. Today's product is federally insured, HUD-regulated, and required to include third-party counseling before any application.

That doesn't mean it fits every family. About half of the homeowners Mark meets with are told the same thing: this isn't right for you. That's the point of education-first guidance.

What this covers

How the HECM actually works

Homeowners 62+ borrow against equity. There are no required monthly payments. You keep title. The loan is repaid when the last borrower permanently leaves the home. Property taxes, insurance, and basic maintenance are still your responsibility.

The line-of-credit growth feature

The single most powerful (and least understood) feature: the unused portion of a HECM line of credit grows at the note rate + 0.5% - guaranteed, regardless of home value. Set it up at 62 and it can grow into a six-figure standby fund.

When it fits

Long-term stay in the home, significant equity, desire to eliminate a forward mortgage payment, need for a non-callable line of credit, or a spouse remaining home while the other moves to memory care.

When it doesn't

Planning to move within 3-5 years, family strongly wants to inherit the home debt-free, or the borrower cannot reliably keep up with taxes, insurance, and upkeep.

The Central Texas angle

Mark Hairston founded CTSRN specifically because reverse mortgage decisions deserve someone who will say 'no, not for you' when that's the honest answer. He works with families across Austin, Round Rock, Georgetown, Cedar Park, Lakeway, and the Hill Country.

Next steps

Read the Reverse Mortgage vs. HELOC comparison guide
Book a free 20-minute education call with Mark
Complete HUD-approved counseling (required before any application)

Vetted local providers

Mark Hairston - Reverse Mortgage Specialist
Founder of CTSRN. Education-first reverse mortgage guidance, no high-pressure sales.
Austin · Round Rock · Georgetown (512) 789-6967

Not sure where to start?

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Frequently asked

Is a reverse mortgage right for me?: A reverse mortgage usually fits homeowners 62+ who plan to stay in the home long-term, have significant equity, and want to eliminate a forward mortgage payment or supplement income. It rarely fits someone planning to move within a few years.
What are the downsides of a reverse mortgage?: Up-front costs are higher than a HELOC, the loan balance grows over time, and the home must remain your primary residence with property taxes and insurance paid. Heirs receive less inheritance from the home.
Do I lose my home with a reverse mortgage?: No. You keep the title. The loan is only due when the last borrower permanently leaves the home, sells, or fails to pay taxes and insurance.