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  • Writer's pictureNichole Fox

The Reverse Mortgage Loan Process

The mortgage professionals at Freedomstar Financial are dedicated to making sure that your loan transaction is smooth from start to finish.

Step 1: Consult with a Freedomstar Financial Reverse Mortgage Representative

The first step is to understand your needs. Our professionals take the time to answer any and all questions. We analyze your situation as a whole and then walk you through a free, no obligation, snapshot of the scenario(s) that are right for you.

Step 2: HUD required Counseling

HUD requires all reverse mortgage loan applicants to undergo reverse mortgage counseling. Freedomstar Financial supports and encourages this counseling, so that you feel 100% comfortable with the process.

Step 3: Application

While you are undergoing counseling, your Freedomstar Financial Reverse Mortgage Loan Officer will assist you with the application and understanding what documents are needed, as well as answer any questions that might arise.

Step 4: Processing & Approval

During this time, Freedomstar Financial will schedule an appraisal and assist you with gathering any documents you might need.

Step 5: Closing:

If approved, a closing agent will contact you to sign the final documents and make arrangements for you to receive your funds.

If you would like to find out how much you qualify for, call the professionals at Freedomstar Financial at 888-659-0033 or request a quote online.

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