Mortgage Miracles Happen
Mortgage Miracles Happen

Reverse Mortgage Loan Checklist

Documents needed for a Reverse Mortgage loan

The following checklist of documents is our basic list of what is required for each reverse mortgage loan file that is needed to process and underwrite a loan that has to go to the underwriter.


Counseling Certificate – Must be signed by the counselor and by each borrower

Loan application for Reverse Mortgage Loans

The loan application will be done over the phone after the counseling has been completed and the certificate has been issued.

ID (2 forms of ID)

  • Copy of Drivers License &/or government issued ID (Must have each borrowers date of birth on the government issued ID.
  • Copy of SS (Social Security) Card or a 2nd form of ID (Birth Certificate, voter registration card, Medicare Card).

Income documents:

  • Social Security Award Letter for each borrower (Most recent years award letter)
  • 1099 for the prior years social security income.
  • Other sources of Income documents may be needed subject to your budget and cash flow.


  • Bank statements (all pages even blank pages) – Two months of all pages of bank statements.
  • The following may be needed only in certain instances.
  • Other Asset accounts – (401K, Pension Plan, Annuities, Savings, etc.)

Nearest Living Relatives

  • Need the information for two (2) nearest living relatives
  • Full Names, Tel #’s, addresses, email addresses

Mortgage Statement from current mortgage Loan(s) (if your home has a current mortgage not paid off).

  • Unpaid balance of your current loan?

Death Certificate (Of spouse – if applicable)

Property Taxes – Copy of most recent property Tax statement

Home Owners Insurance

  • Copy of your home owner’s insurance policy
  • Insurance Agents contact information

Trust Documents (If planning on putting your home in a Trust)

Power of Attorney (If being used)

Credit Report Authorization

Letters of Explanations from your credit report (We will help with this after we pull your credit) will include the following items:

  • Credit Inquiries
  • Explanation of all Addresses showing on your credit report

If you have had a Financial Hardship

If you haven’t been able to make any of the monthly or annual payments on your homeowners insurance or property taxes or HOA dues in the past 24 months.

Hardship documentation

  • Proof of Hardship – Documentation of hardships you have been through.
  • If you have major medical expenses or another type of immediate hardship, or if your expenses and debt payments are more than your income, you’ll need to provide proof of your hardship and provide bills and documents of proof of the hardship.
  • Write a Letter attention to your loan officer and underwriting addressing your hardship of why you missed payments or why you have collections or judgments or a recent bankruptcy filing

If your Reverse Mortgage is a Refinance from a previous Reverse Mortgage

  • Original Note Loan Amount
  • If you have a current Reverse Mortgage Loans, we need to know the following:
  • FHA case number of your current loan – (this can be found on one of two documents; 1) Note & 2) Deed of Trust


If you live in an HOA, contact information for the HOA presidency