How Does the Process Work

HOW DOES THE PROCESS WORK?

1.) Initial Discussion: We would like to talk with you to determine if the reverse mortgage is the right loan for you. We talk about the pros and cons, how it works, how much money you might receive and anything else you’d like to know. Then you decide whether you want to take the next step.

2.) Counseling: If you decide that a reverse mortgage is the right choice, you would receive counseling from an approved counselor to make sure that you have had all your questions answered and that there is no confusion.

3.) Appraisal: Then we arrange for an appraisal to determine the market value of your home and whether any repairs would be required to meet the guidelines.

4.) Inspection: In many cases an inspection is required to make sure that the home is structurally sound and there is no extensive termite or dry rot damage.

5.) Underwriting: After the appraisal and inspection reports come in we go through all the normal processing procedures that you may find in any mortgage.

Mortgage Resources

Featured Tools

Loan Info

Company Info

Other Services