Non-Eligible Properties

The following property types are not eligible for a reverse mortgage:
 Investment properties
 Vacation homes
 Second homes
 Properties with illegal accessories units or mixed use properties where more than 25% is used for non-residential purposes
 Manufactured homes which are legally recorded as a condominium (this will change in 2009) or if property is not taxed as real estate
 Two parcels on one deed (if home sits on both)