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The loan process for a reverse mortgage is slightly different than other loans. There are seven main steps in the reverse mortgage process. Our licensed reverse mortgage specialists will work with you to personalize your experience and ensure that you have all of the information necessary to make the right decision for you and your family!

1. Meet with a loan officer.
   If you haven’t connected with one of our amazing loan officers yet, head to https://www.divmg.com/find-loan-officer to find your perfect match!
2. Talk through personalized loan proposal
   Your loan officer will create a personalized loan proposal with multiple options from which you can choose.
3. Complete HUD-approved counseling
   Choose from a list of independent, third-party, FHA-approved counselors and attend a Reverse Mortgage consultation with them.
4. Complete your application
   Once counseling is complete, your loan officer will help you complete your application. Once your application is complete, we will submit it and order the appraisal. At CMG, there is no out of pocket expense for the appraisal, the cost will be rolled into your other closing costs.
5. Submit all necessary documents and await approval
   We will submit your loan to underwriting where the documents are reviewed, finalized, and prepped for closing.
6. Provide your processor any additional information required
   After your loan is approved, your underwriter may request some additional documentation, which your processor will collect from you.
7. Close your loan and receive funds!
   When your loan is ready to close, we will arrange for a notary public to come to you and finalize the loan documents. At closing, you will sign the necessary papers and receive the funds from your Reverse Mortgage!