*Still responsible for paying real estate taxes, insurance, applicable HOA fees, and maintaining the home according to guidelines.

**A closing cost credit is not a discount. The credit is valid for applications submitted to Rate Reverse Mortgage Loan Specialists by calling the toll free number prior to 5/22/2026. The credit is not applicable for new home purchase loans. $500 credit will be applied at time of closing and is factored into the rate and APR. Applicant subject to credit approval. If loan does not close for any reason, costs will not be refunded. This offer and/or receipt of application does not represent an approval for financing or interest rate guarantee. This coupon cannot be redeemed for cash/has no cash value. Restrictions may apply, contact Rate for current rates or more information.

1-As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance and keeping your home in good condition. (or good shape or maintenance). This is not an approval. Home Equity Conversion Mortgages are available for borrowers 62+. Borrower must pay property taxes, Homeowner's insurance, and HOA dues (as applicable) while maintaining the home and using it as a primary residence or the loan will need to be repaid. Otherwise the loan must be repaid when the borrowers leave the home more than 12 consecutive months, transfer their property's title to another person, the last borrower passes away or sells the home. Neither Rate nor this material is affiliated with HUD, FHA, or any other government agency. To find a Reverse Mortgage counselor near you, search the HECM Counselor Roster at https://entp.hud.gov/idapp/html/hecm_agency_look.cfm or call (800) 569-4287. Compare loan types when selecting a loan. Go to https://www.rate.com/hecm-reverse-mortgage for important information about eligibility restrictions and requirements.

Charges such as an origination fee, mortgage insurance premiums, closing costs and/or servicing fees may be assessed and will be added to the loan balance. The loan balance grows over time, and interest is added to that balance. Interest on a reverse mortgage is not deductible from your income tax until you repay all or part of the interest on the loan. Although the loan is non-recourse, at the maturity of the loan, the lender will have a claim against your property and you or your heirs may need to sell the property in order to repay the loan or use other assets to repay the loan in order to retain the property. You should know that a reverse mortgage is a negative amortization loan which means that your mortgage balance will increase while your home equity decreases if you do not make principle and interest payments on your loan. This may make it more difficult to refinance the loan or to obtain cash upon the sale of the home. However, you will never owe more than the home is worth when the loan is repaid.