There is no size restriction for a property to qualify for a reverse mortgage, but there is a maximum claim and appraisal amount that can be assigned to a property. For HECM loans, HUD has a maximum claim amount of $625,500 that can be assigned to a property, regardless of the appraised value. If you were looking for a higher loan amount because of a higher property value, that would be considered a Jumbo reverse mortgage, and cannot be insured by HUD.

There is also an appraisal maximum of 10 acres. This means that yes, you can qualify and participate in the reverse mortgage program, but only 10 of your 51 acres will be allowed to be used in the valuation process and counted towards the loan amount. The other 41 acres of your property will not be included in the appraised value.

Disclaimer: The response above is not intended to be anything other than the educated opinion of the author. It should not be relied upon as financial advice. America Advisors Group recommends speaking directly with an AAG Reverse Mortgage Professional regarding your specific situation and needs. Please call 1 (800) 466-0572 to receive AAG's information pack with a FREE DVD and Brochure featuring Former Senator Fred Thompson.