Can you get a mortgage or reverse mortgage on residential property that is owned out right with no house on it?

No on reverse but you can get a land loan.

NO

Understand that "Zoning" is different than property type.. in your scenario, If the land does not have a "residence" on it, then it's not residential property, it's land.. to get a reverse mortgage, the property must be your primary residence.. so, if there is no home on it, then no.. it cannot be secured by a reverse mortgage.. In fact, there are NO conforming loan products where you can get a loan on vacant land.. The only financing would be a land loan.. and since land is speculative, then expect higher interest rates, lower loan to value's and much shorter terms.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347