By Steven Hyde, Founder, Hyde Funding · NMLS #391380. Reviewed October 22, 2026. Hyde Funding is a mortgage lender headquartered in San Diego, lending nationwide since 2015.
Short answer: If your spouse is too young to be a HECM borrower, they may qualify as an eligible non-borrowing spouse. That lets them stay in the home after you pass away (a deferral of repayment) as long as they were married to you at closing, are named in the loan documents, live in the home as their primary residence, and keep up taxes, insurance and maintenance. They can’t draw new funds after the borrower’s death.
The principal limit is based on the younger spouse’s age, so a younger spouse usually means a lower available amount.
Primary residence, timely property charges, and annual certifications. The deferral ends if they move out.
A spouse who doesn’t meet the requirements (for example, doesn’t live there) doesn’t get the deferral.
If both spouses are 62+, both should usually be borrowers.
Yes, if they qualify as an eligible non-borrowing spouse and meet ongoing obligations.
Not after the borrower’s death. Payments stop.
A spouse married after closing generally isn’t eligible for the deferral.
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Steven Hyde, NMLS #391380 (NMLS Consumer Access). Equal Housing Opportunity. Reverse mortgage borrowers must live in the home as their primary residence, keep paying property taxes, homeowners insurance and HOA dues, and maintain the home, or the loan may become due. The loan balance grows over time. HECMs are insured by FHA. Hyde Funding is not affiliated with HUD, FHA or any government agency. This is general information, not a commitment to lend. Consult a financial or tax advisor.