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Does a condo qualify for a reverse mortgage? | 1st INTEGRITY MORTGAGE

Does a condo qualify for a reverse mortgage?

A condo in a HUD approved homeowners association (like Rossmoor) is qualified for reverse mortgage. Co-operatives are not eligible for a reverse mortgage according to HUD. From time to time there is a proposal to add Co-ops to the eligibility but as of today that is not the case. Single family homes both with and without homeowners associations and manufactured homes are also eligible for a reverse mortgage. Manufactured homes have to meet severalĀ  additional requirements to qualify.

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