Guaranteed Rate is adding more support systems and training for loan officers to boost its reverse mortgage program.

The company made the announcement this week. 

Reverse mortgages work for some homeowners 62 and older who have at least 60% equity in their primary residence. The mortgages are similar to a home equity loan but generally include terms that are more flexible for the property owner. 

“These mortgages fit a very specialized segment of the marketplace, but for those seeking financial flexibility, they can be a game-changer,” Jim Hettinger, Guaranteed Rate’s executive vice president of operations, said in a news release. “This ensures an extra measure of security for those looking to make their retirement years more comfortable.

“These loans give long-time homeowners a way to enjoy the benefits of that equity in their retirement years — all while retaining ownership and continuing to live in the house they call home.”