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| Steps you will follow |
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The reverse mortgage loan process involves several steps that both the lender and homeowner are required to follow in Idaho.
These steps are designed to protect and educatate you so you can make the best informed desicion for your future.
Here are the steps you can expect to go through:
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| 1. Call us or fill in our 'Contact Us' form. |
| Once you submit the form or call us we will ask you a few questions and then route you to a loan officer. |
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| 2. Receive Upfront Education. |
| A loan officer will contact you to answer all your questions and help you pick a reverse mortgage loan product that is right for your situation. |
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| 3. Go to Counseling. |
| Financial counseling from an approved counseling agency will be provided. The agency in Idaho will provide counseling in order to make sure that a reverse mortgage loan is truly your best option. |
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| 4. Application/Disclosure. |
| Fill out the appropriate loan applications we provide. |
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| 5. Processing. |
| As with any loan the home must be appraised and physically inspected. |
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| 6. Underwriting. |
| The loan after all the information is gathered must be approved. |
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| 7. Closing. |
| Sign the loan documents. |
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| 8. Disbursement. |
| You start receiving your checks. |
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| 9. Repayment. |
| The loan is repaid when you no longer live in the home as your principal residence. The loan may be repaid by you or your heirs/estate, with or without a sale of the home. The repayment obligation will never exceed the homes value or sale price. |
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Reverse Mortgage Loans Idaho provides all the resources, tools and information to assist you in the process of buying a reverse mortgages. We will help you find a qualified mortgage specialist in your area to educate you. Reverse Mortgage Loans Idaho facilitates matching you with a local brokers for reverse mortgages to ensure a successful loan. We have all the information you need to understand all the questions you may have about a reverse mortgages. For example, did you know that anyone aged 62 or over may meet the requirements to obtain reverse mortgages? Reverse Mortgage Loans Idaho includes articles, frequently asked questions, and blogs with all the Reverse Mortgages questions and answers you can possibly think of. We encourage you to read our privacy policy and terms of use and hope that you enjoy using the Reverse Mortgage Loans Idaho site.
Copyright 2007 HomeXperts, Inc. |
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| The State of Idaho is a state in the Pacific Northwest region of the United States of America. The state's largest city, and capital, is Boise. Residents are called "Idahoans." Idaho was admitted to the Union on July 3, 1890, as the 43rd state. According to the United States Census Bureau, in 2004, Idaho had an estimated population of 1,393,262. The state's postal abbreviation is ID. Idaho is nicknamed the Gem State because of its abundance of natural resources. The state motto is Esto Perpetua (Latin for "Let it be perpetual"). |
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