DOCUMENTS REQUIRED TO PRE-QUALIFY FOR A
REVERSE MORTGAGE
FOR HOME PURCHASE
FROM ALL BUYERS-BORROWERS (US Citizens and Legal Residents)
q FUNDS AVAILABLE TODAY FOR DOWN PAYMENT & CLOSING COST:
$___________. Available in _______ days
Source: [ ] Savings/Investments [ ] Sale of Asset [ ] Gift from Relative
Other (please explain): _________________________________________________
q Credit Report Authorization: Download, print, sign CLICK HERE
q INCOME q Copies of the Last two years Tax Returns. (ALL PAGES -SCHEDULES). : 1) If employed: Pay Stubs, last 30 days, q Last 2 years W2
2) If Self-Employed: q Profit & Loss Statement Year-to-date q Last 2 years 1099
3) Benefit Award/ Letters from Government and/or pension Plans.
OF THE PROPERTY
q Estimated Purchase Price: $_________________ q Under Contract: Yes / No
Address of Property selected (if any): _________________________________________________
Estimated Closing Date: _______/_______/20______ q Not Available:
q BUYERS REALTOR (if any): ______________________________________________
Mobile: ___________________ email: __________________________________________
q IF BORROWER(S) OWNS OTHER PROPERTIES: Information on EACH: 1) Address, 2) County and State where located 3) if it is Investment or 2nd Home, 4) Property Tax Bill, 5) ALL Insurance Policies’ Declaration pages 6) HOA Payment Amount.
7) Rent Roll.
q Trust: Must be revocable. q POA. Please provide copy of the complete document prior to application.
q BANKRUPTCY: Chap. 7: 24 months wait from discharge. Chap. 13: 12 months no late payments and Court Authorization if not discharged. Copy of Discharge Prior to application..
q Legal Resident (Green Card): color copy of both sides of the card (face must be recognizable).
q Foreclosures: Yes / No How many years?: _____ q ShortSales: Yes / No Years?: _____
q Deed-In-Lieu: Yes / No Years?: _____
NOTE: Please have all exhibits ready for our meeting or send to my attention. Failure to provide these documents in a timely manner, may delay the closing. Other documents may be required. Subject to errors and omissions and to change without prior notice
Not Only Am I A Reverse Mortgage Specialist, But I Am Also a Client!!!