Can You Get a Reverse Mortgage if Your Child Is on the Deed?
By Tyler Plack
Tyler Plack is the President of South River Mortgage. Tyler holds an active FHA Direct Endorsement (DE) underwriting certification and is the author of The Retirement Solution: Maximizing Your BenefitTyler is a seasoned entrepreneur and real estate investor renowned for his expertise in reverse mortgages and his commitment to addressing seniors' equity challenges. Tyler brings a unique perspective to his ventures, having built several successful companies throughout his career. His insights are frequently sought by industry publications, where he is recognized for his vast knowledge in the realm of reverse mortgages.
An avid investor in income-producing properties, Tyler is dedicated to helping seniors navigate their financial needs with compassion and expertise. When Tyler is not helping solve America's retirement crisis, he is a skilled pilot flying airplanes for fun.
Table of Contents
The Short Answer: Yes, But There’s a Catch Why Ownership Structure Matters Common Solutions When a Child Is on the Deed What If You’ve Had a Reverse Mortgage Before? Example: How It Works in Practice Protecting Family Ownership and Peace of Mind FAQ: Reverse Mortgages with a Child on the Deed Thinking About a Reverse Mortgage?When Margaret sold her longtime home to move closer to family, she thought her financial worries were behind her. At 66, she’d already used a reverse mortgage once before — and it gave her the freedom to retire comfortably.
Now, a few years later, she’s bought a smaller home with her son. The house needs repairs, and she’d like to get another reverse mortgage. But there’s one question on her mind:
Can you get a reverse mortgage if your child is also on the deed?
The Short Answer: Yes, But There’s a Catch
You can still qualify for a reverse mortgage even if your child’s name is on the deed — but only if every person listed on the title meets certain requirements.
Because reverse mortgages (also called Home Equity Conversion Mortgages, or HECMs) are federally insured loans, the FHA requires that all titleholders be at least 62 years old and live in the home as their primary residence.
That means if your child is on the deed and under 62, or if they don’t live with you full-time, you’ll need to adjust the title before applying.
Why Ownership Structure Matters
When you apply for a reverse mortgage, the lender checks who legally owns the property. Everyone listed on the deed must either:
- Be an eligible borrower (62 or older, living in the home), or
- Be removed from title before closing.
This rule exists to protect both the homeowner and the younger co-owner. A reverse mortgage is tied to the borrower’s lifetime occupancy — so the loan ends when the last borrower moves out or passes away.
If an ineligible person remains on the title, the loan can’t be insured by the FHA.
Common Solutions When a Child Is on the Deed
If your son or daughter is under 62, there are still simple ways to move forward safely.
1. Temporarily Remove Them from the Title
The most common solution is to remove the younger co-owner from the deed before applying. Once the reverse mortgage closes, they can often be added back later through a quitclaim deed or estate planning process.
2. Use a Trust
Some families choose to place the home in a living trust. As long as the trust meets FHA guidelines and names the eligible borrower as the primary beneficiary, the reverse mortgage can proceed.
3. Apply as a Single Borrower
If the child doesn’t live in the home, you can apply solely in your name. The proceeds and obligations will apply only to you, but the property remains in the family.
Every family’s situation is different, and the right approach depends on your goals — whether that’s keeping the home long-term, sharing ownership, or simply financing repairs.
What If You’ve Had a Reverse Mortgage Before?
If you’ve had a reverse mortgage on a previous home, that doesn’t disqualify you from getting another one.
As long as the old loan was paid off when you sold the home — and you meet the current eligibility requirements — you can apply again with no problem. Many homeowners do this after relocating or downsizing in retirement.
Example: How It Works in Practice
Let’s say you and your son buy a home together for $380,000. He helps with the down payment and is listed on the title. You’re 66, he’s 35.
To qualify for a reverse mortgage, you remove your son from the deed before applying. The home is appraised, and you qualify for a $180,000 reverse mortgage. You use $30,000 to make repairs and set up a growing line of credit for future needs.
After closing, you both remain protected: you keep full ownership during your lifetime, and your son can inherit or repurchase the property later.
Protecting Family Ownership and Peace of Mind
Reverse mortgages are designed to help seniors live comfortably — not to complicate family relationships.
If you and your children share ownership, the best approach is to speak openly before applying. Discuss your long-term goals:
- Do you plan to live in the home for the rest of your life?
- Would your child eventually want to keep or sell it?
- How important is maintaining joint ownership right now?
The answers will guide how your loan and title should be structured.
FAQ: Reverse Mortgages with a Child on the Deed
Can a child under 62 remain on the title?
No. All borrowers on the title must be at least 62. Younger co-owners must come off title before closing.
Can they be added back later?
Yes, typically after closing — though it’s best to consult your lender or attorney to ensure compliance with local regulations.
What if my child lives with me?
They can continue living in the home, but only the borrower(s) listed on the loan are protected after one passes away or moves out.
Does removing my child from the title mean I lose protection?
No. The home remains yours, and you keep lifetime occupancy rights as long as you meet loan obligations.
Can I use the funds for home repairs?
Yes. Reverse mortgage proceeds are flexible — you can use them for repairs, healthcare, or any other personal expenses.
Thinking About a Reverse Mortgage?
If you’re 62 or older and own your home — even jointly with a family member — you may qualify for a reverse mortgage that gives you extra funds for repairs, living expenses, or financial peace of mind.
Get an instant reverse mortgage quote today (completely free) or call 855-212-9114 to speak with a licensed South River Mortgage expert. We’ll review your ownership situation and help you structure it correctly — no pressure, no obligation.
