This is the third question in our FAQ blog series on Reverse Mortgages. The following question is important for those seeking a Reverse Mortgage and concerned about their credit score.

FAQ #3

“Do you need perfect credit to get a Reverse Mortgage?”

The rules have tightened down in the past few years. They don’t necessarily care about your credit score or debt-to-income ratio but what they do look at is what the borrowers have done financially in the past 2 years. They perform a financial assessment if you will. They look at any late payments, foreclosures, judgments, etc.

Upon review, two things can happen if there has been any late payments, foreclosures, judgments, etc. in the past 2 years:

  1. The borrower might receive half of what you could have received which is known as a “partial assessment”.
  2. The borrower might have to hold-off on a Reverse Mortgage until enough time has passed.

The borrower also needs enough income to be able to pay taxes and insurance while having enough to maintain the house as well.

To see additional information regarding Reverse Mortgage, please visit my youtube channel: All of the questions in this series on “Frequently Asked Questions regarding Reverse Mortgage” are answered in those videos.

Also, you can visit for additional information.

If there is a question you may have that I don’t answer, feel free to email me at or call be at 615-970-2216. I’d be happy to sit down and discuss any questions or concerns.