Reverse Mortgage Funding (RMF) is pleased to announce an exciting market-expanding enhancement to their Equity Elite suite of products. Effective September 3, 2021, they are reducing their minimum age requirement and Equity Elite will be available to borrowers who are at least 55 years old when they sign the final Application at closing unless a state has a more restrictive age requirement.
States with Age Restrictions
The following states require that the borrowers be 60 years of age or older when they sign the final Application at closing:
• Louisiana
• Massachusetts
• New Jersey (Term payment plan only)
• Washington State
The following states require that the borrowers be at least 62 years of age or older when they sign the final Application at closing:
• New Hampshire
• North Carolina
• Texas
• Utah
