Reverse mortgages are available to homeowners that are age 62 and older. All persons listed on the deed t the property must be a least age 62. The borrowers must occupy the property as their primary residence and all existing liens must be paid off at the time of settlement. The proceeds from the reverse mortgage are available to pay off the liens on the property.
For a conventional mortgage there are a lot more considerations to be made. Items like income, credit, and job history are the major factors but there are numerous other issues that have to be considered to know how much house you can afford or whether you can refinance.