A Reverse Mortgage Loan is a mortgage product that allows the homeowner to convert some of the equity in their home into cash without having to sell the house or make any additional monthly payments.
You can find a form of these programs in private hard lenders and with banks private banking department.
Couple things: some states have ruled this loans illegal, and yes private money can be expensive and normally have very short terms or a balloon note due in 3 to 5 years
Both private money and private banking require the offset of not looking at income with you needing large assets on deposit or large down payments around 50%
Have a great day and hope this helps