Reverse Mortgages · Virginia & Maryland · Homeowners 62+

Your home. Your wealth. Your terms.

I'm Chris Nassief. I've helped Northern Virginia and Maryland homeowners with reverse mortgages for years, and some of the people I meet with should not get one. Run the two-minute estimate, then let's talk honestly about whether it fits you.

NMLS 205178
Equal Housing Opportunity
Estimates only, not a commitment to lend

See My Free Estimate

Prefer to talk first? Call (703) 255-5810 or book a free consultation.

Free Estimate · Virginia & Maryland Homeowners 62+

How much could you access?

Seven quick questions. Two minutes. No credit pull, no obligation. This is an estimate for education only, not an offer or commitment to lend.

Question 1 of 7

What is the age of the youngest homeowner?

If a spouse lives in the home, use whoever is younger. You generally must be 62 or older.

Is a spouse under 62 living with you? Enter their age (optional)

FHA can protect a younger spouse so they can stay in the home. It bases the loan amount on their age.

Question 2 of 7

Is this home your primary residence?

A reverse mortgage is only for the home you live in most of the year.

Question 3 of 7

What type of home is it?

Most homes qualify. A few types need extra review.

Question 4 of 7

Roughly, what is your home worth today?

Your best estimate is fine. We'll confirm the real value later with an appraisal.

Question 5 of 7

How much do you still owe on the home?

Include any mortgage or home-equity loan. Enter 0 if it's paid off.

Your current monthly mortgage payment, if any (optional, principal and interest)

Question 6 of 7

Which state is the home in?

I'm licensed in Virginia and Maryland.

Question 7 of 7

Do you keep up with your property taxes and homeowners insurance?

With a reverse mortgage you stay responsible for these. Your answer just helps set expectations.

How many more years do you plan to stay in this home?

Does anyone who would not be on the loan live with you?

An adult child, a partner, a relative. They would not have a right to stay when the loan comes due, so it matters.

Last step

Where should I send your estimate?

Enter your details and I'll show your estimate on the next screen and email you a copy. This estimate is for education only, not an offer to lend.

First name

Last name

Phone

✓ No credit pull✓ No obligation✓ Estimate only

Rather do this by phone? Call me at (703) 255-5810 or ask me to call you.

Plain English

What a reverse mortgage actually is

A Home Equity Conversion Mortgage (HECM) is an FHA-insured loan for homeowners 62 and older. Instead of paying the bank each month, you draw on the equity you've built. You keep the title and stay in your home. It is a loan, not a government benefit, and it must be repaid, usually from the sale of the home when the last borrower leaves it. You keep paying property taxes, homeowners insurance, and upkeep.

Free estimate and a real conversation

Run the estimate above. Then we talk. I tell you honestly whether a reverse mortgage helps or hurts your situation.

A plan built around you

Your age, your equity, your budget, and what you want the money to do. Every number in writing, including all the costs, before you decide anything.

Counseling, application, closing

You meet an independent HUD-approved counselor (required, about $125, about an hour). We file the application together, the home is appraised, and you close.

Your Options

Three kinds of reverse mortgage

Most of my clients use the FHA-insured HECM. Two others exist for specific situations.

Most common

HECM Loan

The standard reverse mortgage, insured by FHA. Turn home equity into cash with no monthly mortgage payment.

Good to know

Take it as a lump sum, monthly payments, or a line of credit that grows while unused
Non-recourse: you will never owe more than the home is worth when it is sold
Youngest borrower 62+, primary residence, HUD counseling required

Best when: you plan to stay put, your budget carries the home, and you want to drop a payment or add a flexible reserve.

High-value homes

Proprietary (Jumbo)

Privately backed loans for homes worth more than the 2026 FHA limit of $1,249,125. Common in McLean, Vienna, Great Falls, Potomac, and Bethesda.

Good to know

Higher limits than HECM, depending on the program
No FHA mortgage insurance, but also no FHA protections, so the rules vary by program
Some programs start at 55 and accept condos HECM does not

Best when: a HECM would leave equity on the table. I spell out each program's protections before you choose.

Buying a home

HECM for Purchase

Buy your next home with a reverse mortgage. A large down payment, usually from the sale of your current home, and no monthly mortgage payment on the new one.

Good to know

Down payment typically 40 to 60 percent, depending on age
Downsize, right-size, or move closer to family in one transaction
FHA-insured with the same non-recourse protection

Best when: you are selling a larger home and want the next one without a mortgage payment and without spending every dollar of the proceeds.

No Surprises

What it costs

Real costs exist. Most are financed into the loan, so you usually do not write a check at closing, but they reduce what is available to you.

Cost	How it is set
Origination fee	2% of the first $200,000 of home value plus 1% of the rest. FHA floor $2,500, cap $6,000.
Upfront FHA insurance	2% of the home value, up to the FHA limit. This buys the non-recourse protection for you and your heirs.
Annual FHA insurance	0.5% of the loan balance per year, added to the loan. No monthly bill.
Closing costs	Appraisal, title, settlement, recording. Typically a few thousand dollars in Northern Virginia and Maryland.
HUD counseling	About $125, paid to the independent agency, not to me.
Interest	Accrues on what you have drawn. No monthly payment is required, so the balance grows over time. That is the trade-off.

How much you can access is set by an FHA table driven by the youngest borrower's age and current interest rates. Figures above are typical ranges for illustration only. Your actual costs are disclosed to you in writing before you commit to anything. Pricing is subject to change.

The Honest Part

When I'll tell you no

A reverse mortgage is the wrong tool for a lot of people. Here is when I say so.

You plan to move soon

If this isn't the home you want to stay in for years, the upfront costs usually outweigh the benefit. A HELOC or a sale may serve you better.

The budget can't carry the home

You still pay taxes, insurance, and maintenance. If those are already a struggle, a reverse mortgage can put the home at risk, and I'll say so.

Someone not on the loan lives with you

An adult child or a partner who is not a borrower has no right to stay when the loan comes due. We talk about that up front, ideally with them in the room.

Common Questions

The questions every smart client asks

Hearing a term you don't know? Every reverse mortgage term, explained in plain English →

Do I still own my home?

Yes. Your name stays on the deed and you remain the owner, with the same responsibilities: property taxes, homeowners insurance, and upkeep. The loan comes due when the last borrower passes away, sells, or moves out permanently, including being away for 12 consecutive months, for example in assisted living. Failing to meet the loan terms could result in loss of the home.

How much money can I get?

It depends on the youngest borrower's age, your home's value (up to the FHA limit of $1,249,125), current interest rates, and what you still owe. As a rough rule, a 62-year-old can access somewhere around a third of the home's value and a 90-year-old close to 60 percent, before costs and payoffs. The free estimate shows your math.

How do I receive the money?

Lump sum (fixed rate only), a monthly payment for life or for a set term, a line of credit, or a mix. Many clients choose the line of credit and never touch most of it. Interest accrues only on what you draw, and the unused portion grows every year at the loan's rate plus the insurance premium. It cannot be frozen as long as you meet the loan terms.

What happens to my heirs?

They inherit the home with the loan on it. They can keep it by repaying the balance, refinance it, or sell it and keep any remaining equity. Because the loan is non-recourse, they will never owe more than the home is worth when it is sold. If the balance is higher than the value, they can buy the home for 95% of its appraised value and FHA insurance covers the rest.

Is the money taxed? Does it affect Social Security?

Loan proceeds are not income, so they are generally not taxable and do not affect Social Security or Medicare. Talk to a tax advisor about your situation. Needs-based programs like Medicaid can be affected, which is worth a conversation.

What about my spouse if they are under 62?

A younger spouse can often be protected as an eligible non-borrowing spouse, which lets them stay in the home after the borrower passes, as long as they keep meeting the loan terms. Ask me about this. It matters.

Reverse mortgage or a HELOC?

A HELOC has a monthly payment, requires income to qualify, and the bank can freeze or call it. A reverse mortgage has no monthly payment and the unused line grows. A HELOC is usually cheaper up front. If you plan to move within a few years or can comfortably make payments, a HELOC may be the better tool, and I will tell you so.

What is HUD counseling and why is it required?

Before any HECM can close, FHA requires you to meet with a counselor from an independent, HUD-approved agency. They do not work for me or any lender. It takes about an hour, by phone or in person, costs around $125, and the certificate is valid for 180 days. Bring an adult child or advisor if you like. Find a HUD-approved counselor or call HUD at (800) 569-4287.

Is this a scam?

The HECM program is federally regulated and FHA-insured, with mandatory independent counseling. Bad actors do exist. Walk away from anyone who pressures you to sign today, calls it a "government benefit" or "free money," wants the proceeds put into an annuity or investment they recommend, or asks you to sign the deed over. Verify any lender, including me, on NMLS Consumer Access: The Mortgage Exchange Service LLC, NMLS 205178.

The Mortgage Exchange Service LLC is not affiliated with HUD or FHA. This page was not approved by HUD or any government agency.

Ready to Move Forward?

Start your application

About ten minutes online, no Social Security number, no credit pull. It asks for the real numbers so I can prepare your actual quote before we talk.

Start My Application Online Talk to Chris First

or call (703) 255-5810 · Mon–Fri 9:00 AM–7:00 PM

Start online

Property, what you owe, who is on title, income sources, and how you keep up with taxes and insurance. I review it myself.

Your real quote

I price your file with our lenders and put every number in writing: rates, costs, and what you can actually receive. Then we talk it through, including the reasons it might not be right for you.

Counseling, formal application, closing

You complete independent HUD counseling. We finish the formal application (Form 1003) together, the appraisal is ordered, and you close.

Documents to gather (most delays come from missing paperwork)

Identity and age: government-issued photo ID for every borrower, Social Security card or award letter, and proof of age. Marriage certificate, divorce decree, or death certificate if relevant.
HUD counseling certificate once you have it.
Property: homeowners insurance declarations page, most recent property tax bill with proof of payment, deed, and any HOA or condo statement.
What you owe: current mortgage or HELOC statements, and any recorded liens, judgments, or solar financing agreements. These are paid off first, from the proceeds.
Financial assessment: two months of bank statements, Social Security and pension or annuity award letters, and pay stubs if you still work. Two years of tax returns if you are self-employed or have rental income.
If applicable: a durable power of attorney or the complete trust document if the home is held in a trust. Bring these early; they are the most common last-minute delay.

Having these ready keeps a typical file moving in 30 to 45 days. There is no guaranteed closing date.

Ready for a real conversation about a reverse mortgage?

Free consultation. No pressure. Real answers, including when the answer is no.

Book a Free Consultation Call (703) 255-5810

All figures on this page are estimates for educational purposes only and are not an offer or commitment to lend. Reverse mortgages are loans that must be repaid, typically when the last borrower leaves the home; they are not government benefits. Borrowers must complete HUD-approved counseling. NMLS ID# 205178. Equal Housing Opportunity.