Find a reverse mortgage broker or lender You can find reverse mortgage options at almost every bank or financial institution. Make sure you choose a lender with a good reputation, someone with whom you feel comfortable. Don't be afraid to ask questions and shop around for the best rates, types of loan and start-up fees.

I recommend:  Find a reverse mortgage loan specialist in your state via Reverse Mortgage Nation. Countrywide Financial Corporation offers two different reverse mortgage options: home equity conversion mortgage and a simple equity mortgage. A consultant will help you determine which option may be the best fit for your needs.

Educate yourself on the facets of a bank reverse mortgage Mortgages can be complicated and a reverse mortgage is no exception. When considering a reverse mortgage, it may be helpful to learn more about the advantages and disadvantages as well as the different loan types and other basics.

I recommend:  RTG Consultants, based in Longwood, FL, provides free educational seminars. Or request more information and find out about California reverse mortgage seminars at ReverseMortgageStore.com.

Use online tools to help you finance reverse mortgages From reverse mortgage calculators to financial evaluations and more, many online tools exist to help you with your decisions. Having all the information and resources available to you will help you decipher the best options for you.

I recommend:  Use the reverse mortgage calculator at National Reverse Mortgage Lenders Association to calculate potential costs and monthly payments. American Reverse Mortgage Corporation will evaluate your financial situation for free to see if a reverse mortgage would be the right scenario for you.