Reverse Mortgage Underwriting Guidelines
Here are some of the major guidelines that are looked at during the Reverse Mortgage Underwriting phase.
- You must own your own home
- You must be over the age of 62
- Home must be your "primary residence"
- No mobile homes, and very limited on manufactured and co-op
- HUD Counseling is a requirement
- Upkeep of home is required
- Taxes and Insurance will still need to be paid
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