Any time that we are going to take an application for a Reverse Mortgage, wether you live in Visalia, Fresno, or anywhere else in California, there are certain documents that we will need in order to process your loan.
Some of the documents verify who you say you are, while others verify the income you are claiming. A good clean copy is required. If you do not have access to a good copy machine, you can go down to the local office supply store such as Office Depot/Office Maxx and make your copies there. Usually someone is there to assist you if you need help figuring out their complex machines. If making the trip is too difficult, let your loan officer know and he or she can make those copies for you.
Most loan officers are going to want the following documents from you:
- Copy of your driver’s license. Even if it is expired, we still want it.
- Copy of your Social Security Card.
- Homeowner’s Declaration page: this is from your homeowner insurance company. In the package they send you, you should be able to find a Declaration page.
- Recent Mortgage Statement: of course this only applies if you have a mortgage or line of credit on the home.
- Social Security Benefit Statement: this will simply verify the amount of money you are receiving on a monthly basis from Social Security.
- Other Income Documentation: this would include any pension statements, part-time jobs, full-time jobs, alimony, etc.
- Two Months Bank Statements.
- IRA or 401K most recent statement.
Hope this list helps as you gather your documents for your loan originator. If you are looking for a reverse mortgage, please call me directly at 559-994-3692 or 800-779-1851.
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