1,401,176 HECM reverse mortgages insured by FHA since 1989.
Your reverse mortgage options in about 2 minutes. No Social Security number or credit check.
Reverse mortgage question
You can, and for some people that's the right call. But they aren't really either-or. Claiming at 62 locks in a permanently smaller monthly check, while waiting until full retirement age or 70 generally means a bigger one for life. Some people use a reverse mortgage line of credit to cover the years in between, so they can wait. That strategy has real costs, so it's worth running both ways before you decide.
A lot of our clients feel that same way at first. And it's a fair question. Why borrow against your house when there's a check waiting for you at 62?
What most people don't hear: Social Security was designed to supplement retirement income, not be the only source. And the age you claim at changes the size of that check for the rest of your life.
You can start Social Security retirement benefits at 62. But if you claim before your full retirement age, your monthly benefit is permanently reduced. For most people retiring now, full retirement age is 67.
Wait past full retirement age, and you earn delayed retirement credits until 70, which raise your monthly benefit for life. For a married couple, the higher earner waiting can also mean a bigger survivor benefit for whoever outlives the other.
So the real question isn't "Social Security or a reverse mortgage." It's "If I wait to claim, what do I live on in the meantime?"
Some people use a HECM line of credit as a bridge. They draw from it for a few years while they wait to claim, then lean on the larger Social Security check once it starts. A reverse mortgage doesn't reduce your Social Security retirement benefits.
There are no required monthly mortgage payments on the reverse mortgage. You must continue to pay property taxes and homeowners insurance, maintain the home, and meet the other loan terms.
I wrote about this in detail here: The Reverse Mortgage Bridge to a Bigger Social Security Check.
This strategy has real costs, and it isn't right for everyone. In 2017, the Consumer Financial Protection Bureau warned that using a reverse mortgage to delay Social Security often costs more than you gain, once you count upfront costs and interest on what you borrow.
It tends to make more sense when:
It tends to make less sense when your health suggests a shorter retirement, you may move soon, or claiming early is simply what lets you sleep at night.
Even if you claim at 62, a reverse mortgage line of credit can still be a safety net. What would you do if you suddenly had a big medical bill, a roof replacement, or a market drop right when you needed to sell investments? A standby line of credit can be there for that. See the standby line of credit strategy.
Bring your Social Security statement (you can get it at ssa.gov) and your home's rough value, and we'll run it both ways: claim now, or bridge and wait. Then talk it over with your financial advisor. Call us at 530-888-6000 or get your estimate.
ZYNG Mortgage, Inc., NMLS #76801. A reverse mortgage has no required monthly mortgage payments and uses your home's equity. Fees, mortgage insurance and other costs can be added to the loan balance, and the balance grows over time as interest is added, so your equity typically decreases. When the loan becomes due, the home may need to be sold, or the loan repaid from other funds. Interest is not tax-deductible until it is paid, in part or in full. You keep title to your home and must keep paying property taxes, homeowners insurance and upkeep, and meet the other loan terms; not doing so can make the loan due and could lead to foreclosure.
This material is not from HUD or FHA and was not approved by HUD or a government agency.
HECM count at the top of this page: HUD data through September 2026 (source, opens in a new tab).
