Arizona Reverse Mortgages

A reverse mortgage could help you achieve financial security and peace of mind while living in Arizona.

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For more information, refer to our complete reverse mortgage guide. We’re a trusted Arizona reverse mortgage company committed to helping our customers transform their lives, free of financial strain.

REVERSE MORTGAGE GUIDE

Arizona Reverse Mortgage Process

Our reverse mortgage application process is broken down into four steps:

Education

First, a GoodLife Reverse Mortgage Specialist will provide detailed information about the structure of a reverse mortgage in Arizona. Our team is always on your side, with your best interest at heart, so we’ll listen closely to see whether we may be able to help you achieve your goals of financial freedom.

Counseling

Next, a counselor approved by HUD will review the information we provide you, run the numbers for a second time, and serve as an unbiased helping hand throughout the process.

Application

Then, we arrange an appraiser to conduct a property valuation which is used, in part, to underwrite the value of your loan. To estimate how much you may be eligible to receive in loan proceeds, use our reverse mortgage calculator.

Funding

Once your application is approved and your loan is processed, we distribute your loan proceeds either as a lump-sum, monthly installment, or line of credit, provided that all appropriate payouts have been made.

At GoodLife, you’ll face fewer closing costs because we originate reverse mortgages in-house, meaning there are less third-parties involved. Not only does this save you money, but it also saves time by allowing us to fund your loan much faster than competitors in the industry.

Reverse Mortgage FAQs

For more information, refer to our reverse mortgage FAQs:

Can you get a reverse mortgage if you still have a mortgage?

Yes, many of our borrowers use their loan proceeds to pay off an existing mortgage, eliminate monthly payments, and increase their cash flow.

What type of home is eligible for a reverse mortgage in Arizona?

The FHA may insure a HECM on eligible single-family homes, condominiums, duplexes, triplexes, and quadruplexes; multi-family properties with more than five units are considered commercial and do not qualify.

What is the minimum income per Arizona reverse mortgage requirements?

A reverse mortgage loan is secured by home equity, not the creditworthiness of the borrower. However, a loan processor might assess your finances upon application and determine that funds must be set aside from the proceeds in order to satisfy outstanding financial obligations.

For more information, consult our reverse mortgage FAQs or direct your questions to a GoodLife team member who will be happy to assist.

CONTACT US

Our reverse mortgage experts are here to answer all your questions.

    23032 Mill Creek Drive Ste. 62 Laguna Hills, CA 92653

     

    Toll Free 1-844-960-2856 info@goodlifehomeloans.com

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