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Reverse Mortgage Documentation Checklist

Reverse Mortgage Application Checklist

Following is a list supporting documentation required for your reverse mortgage application.  Not all items on this list are applicable to all borrowers.  If you have trouble with any of the requested documentation, please call or email to discuss possible alternatives.  Unless otherwise noted, copies are sufficient and can be faxed or scanned and emailed.

ALL BORROWERS:

  • Clear copy of photo ID for all borrowers (ie: Drivers License)
  • Proof of Social Security Number:  Copy of Social Security or Medicare Card
  • Original Reverse Mortgage Counseling Certificate (when available)
  • Copy of recent statement and/or payment coupon(s) for current mortgage(s) and/or Home Equity Loan(s) if any
  • Declaration Page of Home Owners Insurance Policy or Agents name and phone number.
  • Proof of income: Copy of Social Security or Pension benefit award letter. Copies of W2s, Paystubs and Tax Returns if employed.
  • Proof of Assets: Copy of 2 most recent (complete – all pages) bank or investment statements.

ADDITIONAL DOCUMENTATION FOR PURCHASE TRANSACTIONS:

  • Contract of Sale on new home: legible copy signed by all parties
    (If property was listed with an agent, include a copy of the Listing)
  • If you have sold your prior home a copy of the HUD-1 Settlement Statement and a copy of the signed deed transferring the property out of your name(s)
  • Bank or investment statements to show sufficient funds for closing covering the 3 most recent months.  All statements must be complete including all pages.

This list is mean to provide general guidance as to what documentation will be required for your reverse mortgage application.  All items may not apply to all borrowers.  Contact me for a list of required documentation specific to your situation or with any questions at 443-738-9121.

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