Your single family home is not the only type of home that can qualify for a reverse mortgage when you are looking at refinancing your home. If you live in a multiple unit dwelling and live in one of the units this can qualify, too. Manufactured homes and approved condos can also qualify as long as they meet FHA and HUD requirements. The loan will come with fees like origination fees and closing costs so it would be to your benefit to shop around for the best rates to keep as much money in your pocket as possible. Only when you sell your home or can no longer live in it will the loan have to be repaid. You will also have to repay the interest that has accrued. If there is any equity remaining after the repayment of the loan that money goes to you or your heirs in the case of your death.