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Reverse Mortgage Information

If you're at least 62 years old, and you're looking for additional funds to cover health care costs, to pay off your current mortgage or to increase your retirement income, consider getting a reverse mortgage.

A reverse mortgage lets you turn your home's equity into cash without incurring additional monthly payments or needing to sell your house.

RevMortgage.org provides information on how reverse mortgages work, and how you can use this financial product to your advantage.

Where to Start

If you're finding it difficult to know where to start, here are a few suggestions based on your situation:

How Much Can I Get?

We can provide you an estimate of how much you can get in a reverse mortgage:

  • Get a loan estimate

    With the use of our reverse mortgage calculator, know how much you can receive from this loan and see if it fits right into your financial needs and goals.

  • Review fees and costs

    Lenders charge different fees when granting reverse mortgage to borrowers. Before you apply familiarize yourself with these costs and what they’re for.

  • For your parents

    Planning for retirement should be a collective effort among family members. If you’re looking into reverse mortgage to help mom and dad cover their expenses, here are important points to discuss with your parents about this financial option.

How to Apply

Applying for a reverse mortgage can be easy. Learn about each step to know what to expect:

  • Getting counseling

    Your home is a very valuable property and it is primarily involved when you take a reverse mortgage. Counseling is required for all loan applicants because it’s not only for your protection, but it will also help you make a more informed decision. Read on to know what to expect during your meeting with a counselor.

  • Loan underwriting

    After you complete your requirements, your loan will be processed through underwriting. Learn what happens during this stage and what happens before and after the home inspection.

  • Closing or signing

    This is the final phase of your application where you meet with the lender and sign the documents to set your reverse mortgage in motion. Read on to know what to expect during this phase and how it is conducted.

Have Questions?

It's important to ask all the questions you can to be able to make the most informed decision:

  • Read our FAQ

    This section covers common inquiries about reverse mortgage and every step involving its acquisition—from self education to the loan maturity.

  • Get expert advice

    If you have questions not covered on our FAQ section, kindly send them to us. Our reverse mortgage experts will do their best to provide the answers or advice you need so that you can make smart choices when it comes to this loan.

Blog

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What is a Reverse Mortgage?

Mar 11, 2015

A reverse mortgage lets you turn your home's equity into cash without incurring additional monthly payments or needing to sell your house. If you're at least...

Read More
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