Can I get a Reverse Mortgage Loan on a vacation or rental property?

One of the conditions required to get a reverse mortgage loan, is that you must live in the property as your primary residence.

However, with a reverse mortgage, you may choose to use the proceeds any way you like. If you would like to purchase a vacation or rental property, you are free to do so. We do suggest that you discuss your plans with your HUD appointed counselor as well as your personal financial advisor.