San Francisco
415-377-4276

Los Angeles
310-462-1307

Irvine
949-607-6474

Sonoma
707-339-0746

San Diego
858-444-0704

Palo Alto
650-334-5260

Sacramento
916-838-9211

San Jose
408-438-1017

The Process

The Process for a JUMBO reverse mortgage includes a financial assessment and requires full documentation.

REQUIRED DOCUMENTS

  1. Copy of California Drivers License(s).
  2. Copy of Social Security Card or Medicare Card.
  3. INCOME:
    1. Recent paystubs covering the last 30-day period (if applicable / if working)
    2. Social Security Awards Letter. If you can not find it; you can order one from Social Security over the phone or you can go to your local Social Security office and order one there. You will get it in about 10 days.
    3. W-2 and or 1099 for the most recent two years (only if you are still working).
    4. Tax returns, all pages and schedules, for the most recent two years (only if you own other properties).
    5. Any additional income documentation. (if applicable).
  4. ASSETS:
    1. Bank Statements (checking & savings) for the most recent two months, all pages.
    2. The most recent statements for any retirement or investment account.
    3. Any additional asset documentation
  5. THE PROPERTY:
    1. Property Tax Statement
    2. Homeowners Insurance Declaration page (first page)
    3. HOA information statement (if applicable)
    4. Copies of any two utilities bills. Water, Garbage, Gas, Electric, or Cable.
  6. Letters of Explanation (if applicable)
  7. Copy of your Revocable Living Trust, if you have one.
  8. If you have just sold a house, then I need a copy of the HUD-1 that Title prepared. You will find it in your closing papers.

 

  • Submit copies of the above documents at your application appointment.
  • The total processing time from Counseling, Application,
  • Processing, Underwritings to Close is running 60 to 70 days.

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