10 questions to ask your agent
By the ReverseGuide team · Reviewed by [licensed mortgage agent] · Updated November 4, 2026
Before choosing a reverse mortgage, ask about the interest rate and term, all setup costs, prepayment charges, how advances work, and what happens when the home is sold. A good agent will compare several lenders and answer in writing.
About cost
Rate, term, APR, setup fees, prepayment charges.
About the money
Lump sum vs advances, minimums, borrowing more later.
About your home
Obligations, what happens if you move to care.
About your estate
Time allowed to sell, the no-negative-equity guarantee.
About the agent
Which lenders they compare and how they're paid.