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Documents You Need for a Reverse Mortgage

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It may seem like a difficult and daunting process to apply for a reverse mortgage, however, it’s a lot more simple than you think. There are very little requirements that you must adhere to, so that you are able to qualify for a reverse mortgage. Senior homeowners can find a peace of mind with the financial freedom that they can find with a reverse mortgage loan.

To qualify for a reverse mortgage, these are the requirements you must meet:

  • At least one of the borrowers has to be 62 year old.

  • You must own the home and live on the property as your primary residence.

  • You must attend a reverse mortgage counseling session.

  • Beginning March 2nd, 2015 – borrowers will have to undergo a financial assessment.

In preparation for reverse mortgage, it is a good idea to create a checklist of all the documents that you may need for the reverse mortgage process. Instead of scrambling through all your paperwork, use this checklist to ensure that everything is in place for you. *

*Please note that additional documents may be needed based on the individual application and request of your loan officer or lender.


Document Checklist:

  • Copy of current Driver’s License or State Issued Identification Card

  • Copy of Social Security Card or can be substituted with a Medicare card

  • Copy of most recent Homeowner’s Insurance Declaration Page

  • Original copy of Reverse Mortgage Counseling certificate

Beginning April 27th, financial assessments will now be a requirement for reverse mortgages. Here are the documents that you may need:

  • 2-3 months bank statements
  • Current tax statement
  • Income Information/verification (i.e. W-2, pension, retirement)

If Applicable:

  • Copy of Death Certificate for spouse

  • Copy of Power of Attorney, Trust Agreement or Conservatorship

  • State from current mortgage institution.


If you want more information on reverse mortgage or the reverse mortgage process, you can speak with a Senior Advisor today at 1-888-808-8486.


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