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.
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.
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.