What is a Reverse Mortgage?

Any loan secured by a home where

repayment is deferred to a later

date.

HECM- The only Reverse Mortgage

insured by FHA

A Home Equity Conversion

Mortgage or HECM is a federally

insured home loan that allows

homeowners age 62 and older to

convert a percentage of their home

value into cash or a growing line of

credit while continuing to own and

live in their home.

What You Should Have Available at Application:

1. Clear copy of driver license(s) OR state ID card(s) OR passport(s).

Enlarged to 150% to read information.

2. Clear copy of Social Security OR Medicare Cards-something that

shows proof of social security number.

Enlarged to 150% to read information.

3. Name, Address, Phone of Hazard Fire Insurance Company

(Declaration or ‘Dec’ Page)

4. Signed HECM Counseling Certificate

5. Additional contact person (name, address, phone and email for

one heir)

6. Years lived in home.

7. Proof of monthly income--pension (lifetime letter) and/or social

security award letter.

8. Two months of bank statements (checking and/or savings)

ALL pages-even if some are blank.

9. Copy of most current mortgage statement(s) if applicable.

10. Homeowners association information; name of it, contact

information, amount you pay, etc. (if applicable)

11. Copy of Power of Attorney (if applicable)

12. Death Certificate (if applicable)

13. Copy of Trust (if applicable)

14. Appraisal fee ~ varies by state and type of residence

If you have more questions about reverse mortgage, call today 616-834-0702, 708-497-5192 or email nancyreverse@gmail.com 

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