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Step-by-Step Checklist to Understand a Reverse Mortgage

14 January, 2026 | Antonio Beltrán

Last Updated on 6 days ago by Antonio Beltrán

A reverse mortgage in Spain can be an excellent option for foreign retirees who have chosen to enjoy their retirement in this country. If you are over 65 and own a property in Spain, this financial solution allows you to receive extra incomewithout selling your home or giving up living in it. You keep full ownership of the property, stay in your Spanish home, and turn part of its value into financial comfort. It’s a safe and simple way to support your retirement lifestyle, cover unexpected expenses, or enjoy greater peace of mind during your years in Spain.

 1. Check basic requirements

  • I am 65 or older

  • I am the owner of the property

  • It is my main residence

  • The home is free of debt

  • I want extra income without selling my home

 2. Review your property

  • I know the approximate value

  • The property is in good condition

  • It is in an area with good demand

  • I can keep paying:

    • Property tax

    • Community fees

    • Maintenance

 3. Decide how you want to receive the money

  • Monthly income

  • Lump sum

  • Mixed

  • To supplement my pension

  • To cover expenses (health, repairs, etc.)

 4. Talk to your heirs

They must understand they can later:

  • Pay the debt and keep the home

  • Sell the property

  • Renounce the inheritance

 5. Review the contract carefully

  • Interest rates

  • Fees

  • Lifetime income (if included)

  • Early cancellation

  • Costs (notary, appraisal, etc.)

  • Protection for heirs

📊6. Request a personalized study

  • How much money I will receive

  • How the debt will grow

  • Expected inheritance

  • Options for my heirs

✔️ 7. Evaluate pros and cons

Pros

  • Receive money without selling

  • Stay in your home

  • No income tax

  • Flexible payments

Cons

  • Debt grows

  • Smaller inheritance

  • Heirs must decide

🤝 8. Speak with a specialist

  • I want a clear explanation

  • I want to compare offers

  • I want help choosing the best option

  • I need documents reviewed

9. Documents needed

  • ID

  • Deeds

  • Property tax (IBI)

  • Community certificate

  • Bank account

  • Appraisal (optional)

⭐ 10. Decide calmly

  • I reviewed everything

  • I discussed it with my family

  • I clearly understand the process

Would you like to know if a reverse mortgage is right for you?

If you are 65 or older and own your home, we can help you understand how much income you could receive and which option best fits your needs.

👉 We prepare a full, clear, and no-obligation study for you.
👉 We can also explain everything to your family if you prefer.

📞 932 153 300 Contact us today and let us guide you step by step.
Your home can provide the financial peace of mind you deserve.

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