Good credit is not required for a reverse mortgage but if your credit score is under 630, you’ll be required to prove that you have sufficient income to pay your property taxes, maintenance, and home insurance.
Excellent credit is required for a Seniors HELOC.
Excellent credit is required for a Seniors Mortgage if you want the best rates.
There are several options for borrowers with weaker credit. The rates are commensurate with the lender’s additional risk.