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Reverse Mortgage Suitability Test

A reverse mortgage might improve your quality of life, but it is not for everyone.

Take this one-minute test to see if the product is a good fit for your financial plan.


Reverse Mortgage Suitability Test

How likely are you to need more income or savings in retirement, either now or sometime in the future?

Select the number that best indicates your level needed.

Not Needed
Greatly Needed
Question 1 of 5
20%

Reverse Mortgage Suitability Test

Is it important to you to remain financially independent and not rely on others for support?

Select the number that best indicates your level of importance.

Not Important
Very Important
Question 2 of 5
40%

Reverse Mortgage Suitability Test

How long do you plan to live in your current home?

Select the number that best indicates how long.

Less Than 5 Years
As Long as Possible
Question 3 of 5
60%

Reverse Mortgage Suitability Test

Would you be willing to use some of your home equity to improve your quality of life?

Select the number that best indicates your level of willingness.

Not Willing
Probably
Question 4 of 5
80%

Reverse Mortgage Suitability Test

Is it more important for you to leave as much as possible for your heirs or have more money to use now?

Select the number that best indicates your level of importance.

Leave for Heirs
More Money Now
Question 5 of 5
100%

A Reverse Mortgage Might Be Helpful to You

Your Suitability score is:

c

With a grade of A , a reverse mortgage may be a perfect solution for improving your retirement plan and overall financial security.

This score is based on the following factors:

  • Your Finances: Getting a reverse mortgage may improve your retirement finances
  • Independence: You want to remain financially independent as long as possible
  • Your Home: You desire to stay in your home for as long as possible
  • Debt: You would consider using home equity to improve your quality of life
  • Your Heirs You are okay with using some of your estate net worth to fund retirement

With a grade of B, a reverse mortgage may be an excellent option for improving your retirement plan and overall financial security.

This score is based on the following factors:

  • Your Finances: A reverse mortgage could help make ends meet or hedge risk
  • Independence: You are uncertain when it comes to financial independence
  • Your Home: You may want to stay in your home, but moving at some point is possible
  • Debt: Using home equity to improve your quality of life may or may not be acceptable
  • Your Heirs You are uncertain on the trade off between better finances now and the size of your estate

With a grade of C , a reverse mortgage may help, but you need to be aware of the trade-offs.

This score is based on the following factors:

  • Your Finances: A reverse mortgage could help make ends meet or hedge risk
  • Independence: You are uncertain when it comes to financial independence
  • Your Home: You may want to stay in your home, but moving at some point is possible
  • Debt: Using home equity to improve your quality of life may or may not be acceptable
  • Your Heirs You are uncertain on the trade off between better finances now and the size of your estate

With a grade of D , a reverse mortgage may not be the best solution for your retirement plan.

This score is based on the following factors:

  • Your Finances: A reverse mortgage could help make ends meet or hedge risk
  • Independence: You are uncertain when it comes to financial independence
  • Your Home: You may want to stay in your home, but moving at some point is possible
  • Debt: Using home equity to improve your quality of life may or may not be acceptable
  • Your Heirs You are uncertain on the trade off between better finances now and the size of your estate

With a grade of F , it is unlikely a reverse mortgage would be a good solution for your retirement plan.

This score is based on the following factors:

  • Your Finances: A reverse mortgage may not be needed if you don’t anticipate running out of money
  • Independence: If you can rely on others, then a reverse mortgage may not be needed
  • Your Home: You may move within five years, making a reverse mortgage less attractive
  • Debt: You would rather not use home equity to improve your quality of life
  • Your Heirs You want to leave the largest estate possible for your heirs