The Reverse Mortgage Loan Process
The fundamental process of obtaining a reverse mortgage is not much different than the process of obtaining any loan. Where the reverse mortgage loan process is different is the amount of education and information that you will be provided prior to making application, and how the loan is serviced after closing.
Also, except in very unique circumstances, the amount of documentation you will need to provide is much less than it would be with a traditional mortgage. On the following pages you will find the steps in the FHA-insured reverse mortgage loan process.