Reverse Mortgage Application Process
A reverse mortgage application procedure typically takes about 30-45 days from begin to end and it contains 5 main steps. But, the longest a part of the reverse mortgage loan process is the decision-making method that leads on the application.The average reverse mortgage applicant starts considering thinking about a reverse mortgage six months earlier than completing an application. The average reverse mortgage applicant starts considering thinking about a reverse mortgage six months earlier than completing an application.The home owner usually researches reverse mortgages with this site for a several months. They request facts from a local reverse mortgage professional. The house owner might also invest one to two months meeting with the professional in individual and reviewing the best faith estimate and different loan documents. “Calculate Your Eligibility” STEP 1: INITIAL APPLICATION The application legally authorizes the lender to start the application proc...