Requirements & Eligibility for Reverse Mortgage’s

The loan process for a Reverse Mortgage Loan is easy. There are very few prerequisites to getting a Reverse Mortgage Loan:

To Qualify:

  • The home owner (borrower / titleholder(‘s)) of your home, must be at least age 62 or greater.
  • You should have at least 40 to 50% of equity built up in your home. Our Reverse Mortgage Loan Expert(s) can help you analyze and determine if you qualify based on your particular circumstances.
  • All existing liens on the property must be paid off at closing.
  • The house being used for the Reverse Mortgage Loan MUST be your principal residence.  Only the house that you live is allowed to be used for a reverse mortgage.
  • Your home must meet HUD’s minimum property standards, but you can use your Reverse Mortgage Loan to pay for repairs that may be required
  • Speaking with and getting a certificate of counseling from an approved Reverse Mortgage Loan counselor is also required. The Department of Housing and Urban Development (HUD) supervises counseling agencies that can work with you in person, or over the phone. We will can provide you with a list of authorized counselors as we help you with your Reverse Mortgage Loan transaction.
  • Your home must be a single-family residence (property) in a 1- to 4-unit dwelling, or a HUD-approved condominium; some manufactured housing is eligible, but cooperatives and many mobile homes are not. Your residence must also be located in an eligible state where Reverse Mortgage products are offered.
  • You Must agree to and make payments on your Property Taxes and your Home Owners Insurance each Year.  If you don’t, the lender will foreclose on the property.
  • You must keep your home in good order.  If you don’t, the lender will foreclose on the property.

Income & Credit

Mortgagees are required to perform a thorough financial assessment of prospective borrowers, which includes, amongst others, a credit history analysis of foreclosures, defaults, late mortgage payments and late property charge payments.


Where do we lend on Reverse Mortgage Loans?

We are a reverse mortgage broker in all areas of Arizona, Colorado, Florida, Texas & Utah.

Mortgage Miracles Happen specializes in arranging Reverse Mortgage loans for seniors.
Disclaimer: “These materials are not from HUD or FHA and were not approved by HUD or a government agency.” (ML 2014-10).

  • Ben was so great to work with on our refinance. He went above and beyond to make sure it was done right and that everything was in place. We would highly recommend him to anyone.

  • Ben worked with us when we were buying a home and I was particularly impressed with how quickly he always responded, even at odd hours. He was a pleasure to work with and we have already recommended him to friends.

  • Ben was courteous, professional, and knowledgeable. He had our best interest at heart through our entire home buying process and never pressured us. I would recommend him to anyone who is looking to buy or refinance a home.

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    All loans subject to credit approval. Rates and fees subject to change. Mortgage financing brokered by Mortgage Miracles Happen, LLC. Equal Housing Lender.
    Mortgage Miracles Happen, LLC is a mortgage broker in Arizona, Colorado, Florida, Texas & Utah.
    NMLS: 1289680; Arizona: 0937981, AZ Address: 7137 E Rancho Vista Drive, STE B05, Scottsdale, AZ 85251;
    Colorado: Mortgage Miracles Happen, LLC; Florida License # MBR1900,
    UT: Mortgage Miracles Happen, UT license # 7380298 Utah DRE,
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