Payless Reverse Mortgage

Let us send you a FREE Reverse Mortgage Information kit

Reverse Mortgage Calculator

Start the Process

Any big financial decision like a reverse mortgage requires that you are confident – not only in the decision, but also in who you trust to guide you through the process.

Six steps to obtaining a reverse mortgage:

1. Education

Talk to Payless Reverse Mortgage to discuss your specific needs. Learn about the benefits, options and costs related to obtaining a reverse mortgage. Then talk to your financial advisor and tax advisor – and even family members.

2. Qualification

You must be at least 62 years old and own an FHA approved home with sufficient equity reserves.

3. Counseling

Our government requires all reverse mortgage applicants to undergo HUD approved counseling. This counseling is performed by an unbiased third-party agency and will only take about 30 minutes.

4. Application

After you have completed counseling, we will set up a time to meet to go over your loan application and to help you obtain some of the required documentation.

5. Approval

When we have your completed application along with any additional required documentation – plus an appraisal with a confirmed value — then we will set up a closing date for you to sign the final closing documents.

6. Funding

Your reverse mortgage will be funded! After a three-day Right of Rescission, your proceeds will be distributed through the method of your choosing.

Again, choosing the right partner is essential. Payless Reverse Mortgage will guide you through each step of the process, ensuring a successful and positive experience.