Matt Radmacher Matt Radmacher

APPLICATION PROCESS, MADE EASY

Reverse Mortgage Features

  • You and your spouse must be 62 years or older.

  • You must own a single family home, 2-4 unit owner occupied, townhouse, detached, condo.

  • You can qualify even if you don't have an existing income.

  • Any outstanding mortgage on your home is paid off as part of the program.

  • No payments are required while you reside in your home.

  • Most loan costs can be paid by and included in the Reverse Mortgage.

  • No credit history applies as long as there are not current government liens against your home.

Application Process

We Make It Easy! The process of obtaining a Reverse Mortgage can be long and tedious, if you are not careful. Reverse Mortgages of California streamlines this process by assigning you a Reverse Mortgage Advisor and Reverse Mortgage Processor. Your Advisor, Matt Radmacher and Processor, will be your contact points throughout the process to answer any questions and keep you updated every step of the way. 
Here's the Quick and Easy Process:

  1. Contact – Reverse Mortgages of California, Inc. locally at 559-741-5579 or at 866-362-9076 .

  2. Review and Determination - We discuss the Reverse Mortgage and determine if it is appropriate for you and your situation. If you desire, we also will send out additional literature on Reverse Mortgages. We will then set up an appointment so one of our Reverse Mortgage Advisors can visit with you and your family, and please feel free to invite the rest of your family to sit in on the presentation. 

  3. Application - During the in-house visit, we will explain all the features, costs, payment options and thoroughly answer all questions. Only when you are satisfied will we begin the application process.

  4. Counseling - We provide you with contacts to set an appointment so you can talk to an independent, certified HUD counselor, which is a requirement of the FHA HECM and it provides you with additional peace of mind.

  5. Appraisal/Inspection - We set up the appraisal and we will notify you of the dates and times to expect them.

  6. Approval - We submit the loan package to underwriting for approval. We track the entire loan package through the system and inform you of the status. You can also call your Processor anytime to obtain the status.

  7. Closing - Once approved, we set a closing date. And, within just a matter of weeks, we complete the process and funds are available.

  8. Funding - After closing, funding is administered after 3 business days