Given the size and diversity of the Pacific Rim Region, weâve identified a predominant economy in each Quarter to better evaluate this area economically. Within each Pacific Rim Region Quarter, a predominant economy is identified with respect to leading economic output figures and international trade activity.
12:40 pm. In general, to be eligible for a reverse mortgage the youngest homeowner must be 62 years old or older and have sufficient home equity. You must also meet financial eligibility criteria as established by HUD. Determining whether or not there is sufficient equity in the home is an FHA calculation that takes into account:
Determine the main drivers of refinancing eligibility. Eligibility is based on current age, current interest rates, size of the existing loan and the current value of your home. Put simply, the older you are and the more valuable your home, the more you can take out using a reverse mortgage.