Reverse mortgages allow seniors, 55 and older, to tap into the equity in their home to produce a stream of income. This compliments any retirement savings and social security, so our seniors can maintain their standard of living and have secure financial opportunities they can depend on. Reverse mortgage loans have specific qualifications. Borrowers must be at least 55 years old and own their primary residence. They must also have equity in the house to pay off any outstanding balances.