Who qualifies for a Seattle reverse mortgage?

The basic requirements: you must be 62 or older (the youngest borrower on title, if there's more than one), you must own the home outright or have substantial equity (typically 50%+), the home must be your primary residence (where you live more than half the year), and you must complete a HUD-approved counseling session before the loan can be ordered. The home itself has to be eligible — single-family residences, FHA-approved condos, manufactured homes built after 1976 on permanent foundations, and 2-4 unit properties where you occupy one unit all qualify. You also need to demonstrate the financial capacity to keep up with property taxes, homeowners insurance, and required maintenance — there's a financial assessment but it's much lighter than a traditional mortgage. There's no minimum credit score and no minimum income requirement. Washington reverse mortgages are available statewide, from Seattle and Tacoma to Spokane, Vancouver, and the Tri-Cities.