Talk To A Team Member

Contact a Reverse Mortgage Expert now to find out if a reverse mortgage is right for you and if you qualify.

View Our App

At this time, we’ll work together to help you choose the best type of reverse mortgage for your needs and determine how you’d like to receive the money from your new reverse mortgage – a line of credit, lump sum, monthly payments or a combination of those. At VIP Mortgage we work closely with Financial Advisors to help you achieve your retirement goals.

Review Financial Goals with A Professional

Because reverse mortgages are a big step for any homeowner, HUD (Department of Housing and Urban Development) requires that all applicants receive third-party counseling to explain all the available options and details. We’ll provide a list of counselors for you to contact.

View Appraisal and Inspection

An appraisal will need to be completed on your home in order to determine the market value, make sure it fits within government guidelines and check for any repairs needed to the home. You might need a structural inspection as well.

Underwriting

After we get all the documents we need from you, we’ll work behind the scenes and finalize all the details of the loan.

Close On Your Home

We’ll set everything up and come to you with all the final documents to sign. We couldn’t make closing any easier!

Loan Disbursement

As with all home loans, the right of rescission period takes three business days. Any debts you’d like included are paid and you can feel secure knowing you’ll never have to make a mortgage payment again.

Repayment Activates

For the life of the loan, you never make monthly mortgage payments to your lender. Reverse mortgages become due when the borrower(s) no longer occupies the home. If the death of the borrower occurs, the heirs/estate may repay the loan from the sale of the home or refinance the home. It’s really that easy!