Like any other financial transaction, a reverse mortgage application process involves a number of steps designed to protect both you and the lender.
Here are the steps you can expect to go through when you apply for your reverse mortgage with Becky Smith, Reverse Mortgage Specialist.

Initial Discussion

The first thing i like to do is talk to you, either over the phone or in person, about whether a reverse mortgage is right for you. We talk about the pros and cons, how it works, how much money you might receive and anything else you’d like to know about. Then you decide whether you want to take the next step.


If you decide that a reverse mortgage is the right choice, you receive free independent counseling from a certified, HUD-approved counselor to make sure that you have had all your questions answered and that there’s been no confusion. It’s a protection device that the government has built into the process of obtaining a reverse mortgage.


I meet with you to complete the application, provide and execute the loan disclosures, collect the items we need to process your loan and answer any questions that may arise.
Appraisal we arrange for an appraisal to determine the objective market value of your home.


After the appraisal and other reports come in we go through all the normal processing procedures that you might find in any mortgage. Escrow is opened, and a Title Search is completed. We also obtain and review your credit, property tax payment history and determine that you have sufficient income to satisfy Financial Assessment.


Your loan is reviewed by an Underwriter to determine that all necessary paperwork is completed accurately, determine that the property meets FHA requirements, that you have sufficient income to meet you monthly obligations and to evaluate your credit worthiness.

Loan Signing

A Notary will meet with you in the comfort of your home to sign you loan documents.
Closing The final step is the closing where you receive the money, or proceeds, from your reverse mortgage. You can choose to receive the payment in one of three ways: as a lump sum, as a monthly payment or as a line of credit.

Then it’s up to you: pay bills, fix up the house, help a family member, or use the money to enjoy your life.

Let Becky Smith 800-935-3639 use her expertise to help you with your Reverse Mortgage Application Process.