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facehair
March 20, 2025
Question

can I deduct expenses incurred when originating a reverser mortgage?

  • March 20, 2025
  • 1 reply
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1 reply

KrisD15
KrisD15
March 20, 2025

No, that is not a traditional mortgage, so no fees are deductible. 

Also, any payments you receive is not considered income. 

 

A reverse mortgage does not loan you money to purchase a home, so the fees are not deducible and any interest you pay later when you end the reverse mortgage (or you sell the house) also is not considered home mortgage interest. 

 

HERE is an IRS link with more information

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