Reverse mortgages are a popular choice among Texas homeowners seeking to unlock the equity in their homes without selling or moving. Thanks to strong property rights and a growing retiree population, Texas has become one of the most active states for reverse mortgage loans. With specific protections built into the Texas Constitution, seniors can confidently use a reverse mortgage to enhance their retirement lifestyle.
A reverse mortgage is a special type of loan available to homeowners aged 62 or older. Instead of making monthly payments to a lender, the lender pays you — using your home’s equity. You remain the owner of your home, and repayment is deferred until you sell the house, move out, or pass away. Reverse mortgages can provide much-needed cash for living expenses, healthcare, or travel during retirement.
Reverse mortgage rates in Texas are competitive with national averages but can vary based on your age, home value, and interest rate type. Contact a reverse mortgage expert for a personalized quote.
Yes, reverse mortgages are legal and protected under the Texas Constitution, with strict regulations to safeguard homeowners.
Yes, protections ensure that an eligible non-borrowing spouse can remain in the home under certain conditions.
Yes, you must maintain these obligations to avoid defaulting on your reverse mortgage.
The loan amount depends on your age, home value, and current interest rates.