Reverse Mortgage – Step by Step

Some simple steps are required to find out whether you are eligible for a Reverse Mortgage.

Step 1

Put in your zip code, the value of your home, the birthday of the youngest borrower and how much is owed on your home (if any).

This calculator will let you know how much you qualify for. This calculator does not capture data. This is for your use only and you will not be contacted by anyone from Mortgage Magic.

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Step 2

To use step two, the HUD HECM Counseling Agency List, use the state drop down menu and click on California (I only lend in California) then the 17 Counseling Agencies will appear.

You can choose any that you want and some will even allow telephone counseling.

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Step 2 – Follow up

Contact your Mortgage Magic Loan Agent to let him know that your counseling session is done.

Step 3

The third step is the loan application. During this process we will order an appraisal, credit report, and a title policy.

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