---
title: Who pays the interest on a reverse mortgage?
description: Reverse mortgages are financial products available to homeowners aged 62 and older that allow them to borrow money using the equity in their homes as collateral. Although the homeowner is not required to make any payments while they are still…
url: "https://reversemortgageresourcecenter.com/faqs/who-pays-the-interest-on-a-reverse-mortgage/"
updated: "2023-05-01"
category: Reverse Mortgage
---

# Who pays the interest on a reverse mortgage?

Reverse mortgages are financial products available to homeowners aged 62 and older that allow them to borrow money using the equity in their homes as collateral. Although the homeowner is not required to make any payments while they are still living in the home, interest is accruing monthly and tacked on to the balance. The interest accrued on a [reverse mortgage](https://reversemortgageresourcecenter.com/reverse-mortgage/) is usually paid off when the loan comes due, which occurs when the borrower moves out, passes away, or sells the home.

[FAQ Who pays the interest on a reverse mortgage? | Reverse Mortgage Resource Center](https://www.youtube.com/embed/Pcl96DdbgmI?feature=oembed)

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