Nebraska Reverse Mortgages | Age 62+ No Monthly Payments

Nebraska reverse mortgages allow homeowners age 62 and older to convert home equity into cash without selling their home or making monthly mortgage payments. Through the Home Equity Conversion Mortgage (HECM) program insured by the FHA, seniors throughout Lincoln, Omaha, and all of Nebraska can supplement retirement income, pay for healthcare or in-home care, make home modifications for aging in place, or create financial flexibility—all while retaining homeownership. The loan doesn’t require repayment until you permanently leave the home, and any remaining equity after repayment goes to you or your heirs.

Frequently Asked Questions

Will my heirs inherit anything with a reverse mortgage?

Yes. Heirs can sell the home and keep remaining equity after loan repayment, refinance to keep the home, or deed it to the lender if the balance exceeds value (no deficiency owed due to non-recourse protection).

Can I lose my home with a reverse mortgage in Nebraska?

Only if you fail to pay property taxes and insurance, maintain the home, or use it as your primary residence. Meeting these obligations ensures you can stay indefinitely regardless of loan balance growth.

How much can I borrow with a Nebraska reverse mortgage?

The amount depends on your age (older borrowers access more), home value (up to FHA limit), and current interest rates (lower rates allow larger loans). Typically 40-70% of home value is available.

Does a reverse mortgage affect Social Security or Medicare?

No. Proceeds are loan funds, not income, so they don’t affect Social Security or Medicare. However, they may impact needs-based benefits like Medicaid or SSI if retained past the month received.