Reverse Mortgage Process
The Step-by-Step Process of Receiving a Reverse Mortgage
1. Pre-Approval
1. Pre-Approval
- First click on the “Get Started” button below or call us directly to get a reverse mortgage pre-approval
2. Reverse Mortgage Counseling
2. Reverse Mortgage Counseling
- A one hour reverse mortgage counseling session is required by law. It can be completed in person or by telephone
- Meridian Home Mortgage® will provide you with a list of at least nine HUD Counseling Agencies to choose from
3. Loan Application / Disclosures
3. Loan Application / Disclosures
- Meridian Home Mortgage will send the loan application and necessary disclosures that need to be signed and returned. We offer two options for your convenience:
- Meridian can send the loan package to you via UPS and provide a pre-paid return envelope
- A Meridian Home Mortgage affiliate can meet you at your home in order to get the application signed
4. Appraisal
4. Appraisal
- Meridian Home Mortgage® orders the appraisal from a government approved appraiser
- You schedule the appraisal inspection for a time that works for you
- The appraisal is your only out-of-pocket expense. It is paid directly to the appraisal company via debit/credit card
5. Processing / Underwriting
5. Processing / Underwriting
- Meridian Home Mortgage® orders the necessary title work and verifications
- The loan is then submitted to the Underwriter
- The Underwriter will issue a conditional approval
- Meridian Home Mortgage works with you to clear conditions, if applicable
- The Underwriter issues a Clear-to-Close (final approval)
6. Closing
6. Closing
- Meridian Home Mortgage® schedules the loan closing at a time that is convenient for you
- The reverse mortgage closing takes place in the comfort of your home or any other place of your choosing
GET STARTED Call 877-878-1000 or click here to ask your questions regarding reverse mortgages. There's never any pressure to apply and the consultation is free. Our team is ready to provide immediate and thorough answers to all of your questions.
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Toll-Free 877 878 0100
Copyright © 2011 Meridian Home Mortgage Corp. NMLS #56301. All rights reserved.
Copyright © 2011 Meridian Home Mortgage Corp. NMLS #56301. All rights reserved.
Meridian Home Mortgage Corporation NMLS #56301. Licensed by the Virginia State Corporation Commission #MC-3680; Commonwealth of Pennsylvania Department of Banking #21605; State of Maryland #8196; Connecticut Banking Commission #11930; Delaware Bank Commissioner #7885, District of Columbia MLB56301; Florida Office of Regulation MLD172; Massachusetts Division of Banks Broker #MB56301; Kentucky MB 72686; Washington CL-56301; Oregon ML-4979; Georgia Department of Banking and Finance #33346.
Loans are arranged through third parties. We arrange but do not make loans.
Meridian Home Mortgage Corporation is located at 1363 N. Main St Hampstead, Maryland 21074
Meridian Home Mortgage Corporation is located at 1363 N. Main St Hampstead, Maryland 21074