What to expect from start to finish.
Getting a reverse mortgage doesn't have to feel overwhelming. Here is exactly how the process works — step by step, no surprises.
Jenn walks you through every step — and stays with you the whole way.
From your first conversation to the day your funds are disbursed, the reverse mortgage process typically takes 30 to 45 days. There are no surprises, no hidden steps, and no pressure to move faster than you are comfortable with.
Jenn can meet with you at her office, your home, by video chat, or by phone — whatever is most convenient for you. She will also make sure you have complete copies of all documents so your family, CPA, or attorney can review everything at their own pace.
The reverse mortgage process.
Nine stages from first learning about reverse mortgages to receiving your funds.
Awareness
You may have heard about reverse mortgages on TV, on the radio, online, through a mailer, or through your own research. However you found your way here, the first step is simply learning that this option exists — and deciding it's worth exploring.
Education
Meeting with a qualified Mortgage Loan Originator is the key to understanding your specific numbers. This is where you learn what you might qualify for and receive an honest analysis of your particular situation — with no obligation to move forward.
HUD Counseling
Federal law requires counseling from an independent, HUD-approved third-party counseling agency before you can move forward. This can often be completed over the phone. You will receive two certificates — one to keep and one to send to Jenn's office. The fee is typically $125 to $150 and is paid by the borrower.
Application
Once you decide a reverse mortgage is right for you, Jenn will guide you through the application. You will receive a complete copy of all documents for you and any trusted advisors — your CPA, attorney, or family members — to review at their own pace.
Financial Assessment
HUD requires a financial review of each applicant's credit history, property tax payment history, and other credit factors. This helps ensure the long-term success of the HECM loan and confirms the borrower's ability and willingness to meet the ongoing obligations of the loan.
The Appraisal
After receiving your HUD counseling certificate, Jenn will arrange for an FHA appraisal of your property. The value is based on what comparable homes in your neighborhood have recently sold for. The appraisal fee is paid by the borrower and determines the final loan amount.
Processing
Jenn processes your paperwork and submits it to the lender. This includes the appraisal, title report, verification of any existing liens or mortgage balances, and verification of income and other credit factors. Jenn stays in regular contact throughout this stage.
Underwriting
When processing is complete, your file is forwarded to a loan underwriter who determines whether the loan will be approved. Jenn works to satisfy any conditions or requirements needed to clear the file for closing.
Closing & Funds Disbursed
Once approved, Jenn will arrange for the signing of your final loan documents and confirm your payment plan. After signing, you have three business days to cancel if you choose. Once the rescission period passes, your funds are distributed based on the payment option you selected. Note: HECM for Purchase loans do not have a rescission period.
Get a no-obligation Reverse Mortgage evaluation and quote today.
What makes working with Jenn different.
A few things you can count on throughout the entire process.
Always Reachable
Jenn responds personally. You will never feel like just a file number.
Family Welcome
Bring your children, your CPA, your attorney — whoever you want at the table.
Full Transparency
Every document, every number, every fee — explained clearly before you sign anything.
No Pressure
Your timeline, your decision. Jenn will never push you to move faster than you're ready.
Expert Underwriting Background
With 15+ years as an Underwriting Manager, Jenn anticipates issues before they become delays.
Meet Your Way
In person, at your home, video chat, or phone — whatever works best for you.
Ready to take the first step?
Start with a free, no-obligation conversation. Jenn will walk you through your numbers and answer every question you have.