Step 1. Take the Reverse Mortgage Suitability Test

The starting point is identifying your goals – both long-term and short-term. Do you want to buy a new home, stay in the current home, travel, fund medical expenses, provide for descendant gifts? Other?

For these long-term plans that involve a considerable amount of money, it’s often a good idea to enlist the help of a financial advisor expert. We are happy to collaborate with your financial advisor to help you meet your goals, while using the equity in your home as a tool in your financial plan.

Step 1a. Don’t forget to consider your short-term goals:

• What do you want to achieve this year?

• Do you want to take a special vacation?

• Do you want to expand your business?

• Do you need to buy a new car?

Regardless of what you want, make a plan to get there.

Step 2. Provide Data Points for Reverse Mortgage Simplified Quote Request

Step 3. Attend the HUD Required Reverse Mortgage Counseling (before application)

Step 4. Submit Application to Loan Officer

Step 5. Loan goes to Underwriting, Appraisal is Ordered, Loan Conditions are disclosed

Step 6. Satisfy Loan Conditions, Address Repairs, Get Loan to CTC (Clear to Close)

Step 7. Lock Loan Interest Rate and Schedule Closing... Close the Loan.