Below is the most common process for getting a reverse mortgage. Please contact us with any questions at: https://www.thefederalsavingsbank.com/garycrist

Step 1 - Research Reverse Mortgages

Speak with a mortgage professional about reverse mortgage options. Familiarize yourself with the various types of reverse mortgages and pick the one that is right for you. This is an important first step with no pressure or obligation

Step 2 - Meet with a HUD approved counselor

In order to receive a reverse mortgage you must meet with an HUD approved councilor who will help you understand what it means to have a reverse mortgage. This service is required to make sure you have had all of your questions answered by an independent third party. We can help find a councilor in your area.

Step 3 - Fill out our Reverse Mortgage application

After you've determined which program best suits you fill out our reverse mortgage application. Your information is securely stored and transmitted. You will need your mortgage counseling certificate from step #2.

Step 4 - Your application is processed and your home is appraised

While your application is being processed a licensed appraiser will determine the value of your home.

Step 5 - Your loan reaches underwriting

All details are worked out and your loan is underwritten.

Step 6 - Your loan reaches closing

Once you are approved your loan will enter closing where you'll get the chance to review the terms and sign the paperwork.

Step 7 - Receive your payments

After closing you'll have three business days in which to cancel the loan. Once that grace period is up, you'll start to receive either your monthly payment or your lump sum.

Enjoy no more mortgage payments or TAX-FREE income for life.