Reverse mortgages and spouses: what each of you needs to know
Both spouses on title must be at least 55, and the younger spouse's age sets how much you can borrow. The loan isn't due until the last borrower dies or moves out, so a surviving spouse on title stays in the home. A spouse not on title has no such protection.
Figures as of November 1, 2026.Every owner on title must be a borrower and meet the age rule: HomeEquity Bank says both you and your spouse must be 55+, and EQ Bank uses the youngest owner's age. When the first borrower dies, the loan continues for the survivor. It becomes due when the last borrower dies or moves out. A spouse who isn't on title or a borrower may have to leave when the loan becomes due.
The rules
The home must be the principal residence and every owner on title must be at least 55 and sign as a borrower. The maximum is based on the youngest owner's age, so a couple with a 62-year-old and a 74-year-old qualifies as if both were 62.
When the first spouse dies
If you're both borrowers, the survivor carries on: no repayment, no new application. EQ Bank says a surviving spouse who held the home as a joint tenant continues as the borrower. Update the home insurance and title as you would anyway.
When one of you needs care
The loan becomes due when the last borrower moves out permanently. If one spouse moves into long-term care and the other stays, the loan continues. If the survivor later moves into care, it becomes due: EQ Bank names a move into long-term care or a retirement residence as a trigger. HomeEquity Bank has written that its prepayment charge is halved in that case; confirm in your contract.
A younger spouse
The age rule protects the younger spouse: they must be a borrower, so they can stay. Taking a spouse off title to qualify sooner can leave them without a right to stay when the loan becomes due. If the age gap is large, compare a HELOC or downsizing in the comparison engine, and wait for the younger spouse to reach 55 if a reverse mortgage is still the plan.
How much does the younger spouse's age change the amount?
| Younger spouse's age | Estimated share | Estimated amount |
|---|---|---|
| 55 | 20% | $130,000 |
| 60 | 28% | $182,000 |
| 65 | 36% | $234,000 |
| 70 | 42% | $273,000 |
| 75 | 47% | $305,500 |
What if one spouse moves into long-term care?
The loan isn't due while a borrower still lives in the home. EQ Bank states its loan becomes due when the last borrower dies or moves into long-term care; HomeEquity Bank's terms work on the last borrower too. If the spouse still at home isn't on title, the protection doesn't apply, which is why lawyers insist both names are on the loan.
What should couples check?
- Both names on title and on the loan.
- Both of you at least 55; the younger age sets the amount.
- A plan for the survivor: the loan keeps growing while either of you lives in the home.
- Wills that say what happens to the home, and heirs who know about the loan.
- Independent legal advice for both of you, ideally together.
| Home | $650,000 |
|---|---|
| Ages | 71 and 66 |
| Estimate if the youngest were 71 | $279,50043% |
| Estimate with the youngest at 66 | $241,80037% |
| Less because the younger spouse is 66 | $37,700 |
Open this example in the calculator →Computed by our engine with the lender terms and rules on the methodology page.Computed November 1, 2026.
What this means for you
Put both spouses on title, and plan for one of you outliving the other: the loan keeps growing until the last borrower leaves. If one spouse is under 55, you'll have to wait, or look at a HELOC.
Frequently asked questions
What happens to a reverse mortgage when one spouse dies?
If both were borrowers, nothing changes: the survivor keeps living in the home and the loan continues. EQ Bank says a surviving spouse registered as a joint tenant continues as the borrower.
What if my spouse is under 55?
Usually you can't get a reverse mortgage until every owner is 55 (HomeEquity Bank requires both spouses to be 55+; EQ Bank uses the youngest owner). Removing a younger spouse from title to qualify puts them at risk; get legal advice.
Primary sources
- HomeEquity Bank — CHIP Reverse Mortgage: eligibility and closing fee. Checked .
- HomeEquity Bank — CHIP products: CHIP, Income Advantage, CHIP Max, CHIP Open. Checked .
- EQ Bank (Equitable Bank) — Reverse mortgage FAQ. Checked .
- EQ Bank (Equitable Bank) — EQ Bank Reverse Mortgage. Checked .
- HomeEquity Bank — Client FAQs (repayment, estate, default). Checked .