The Reverse Mortgage Process

Getting a reverse mortgage doesn’t have to be complicated. We’ve broken the process down into four simple steps, and the experts at GoodLife will provide a helping hand along the way. You’ll enjoy an easy experience—with faster processing and lower rates**Based on data reported by lenders to the U.S. Dept. of Housing & Urban Development. Among the top HECM lenders (minimum of 100 loans), GoodLife Home Loans had the lowest adjustable rates on average for the period from January 1 through December 31, 2020.—so you can live better in retirement.


Tell us about your goals and we’ll teach you about reverse mortgages to see if we can help.


Meet with an independent counseling agency.


We cut out the middlemen and streamline the process to save you time and money.


Choose how you’d like to receive your money and we’ll move fast to disburse the funds.

Step 1) Consultation

Find out how we fund your loan faster and at a lower rate. Learn all there is to know about how you'll get lower fees and costs because we cut out the middleman. And, most importantly, our reverse mortgage experts will give you the advice and information you need to help you decide if a reverse mortgage is right for you.

Step 2) Counseling 

The federal government requires that all borrowers complete a counseling session with an independent agency approved by the U.S. Dept. of Housing and Urban Development (HUD), which can take place over the phone or in-person at your convenience. The goal is to make sure you receive unbiased information, so the counselor will review the details we provided in step one to ensure you’re a good fit for a reverse mortgage.

They’ll address any concerns you might have, discuss your family budget, and present you with alternative options to a reverse mortgage. It’s important to remember that your counselor is an objective third party. They won’t recommend you take any specific action, they’re simply there as a resource during the process.

Step 3) Application

If you decide to move forward, we’ll help you fill out the reverse mortgage application to ensure no detail goes overlooked. At this time, we’ll verify your income, assets, and credit history, then we’ll arrange an appraisal to determine the value of your property and confirm it’s in a safe, working condition. Once we order the title and escrow, the loan is ready for approval.

Step 4) Funding

After your loan is approved, we’ll draw up the final documents and help you arrange an appointment to sign them with a friendly notary. Upon receipt of your official signature, we’ll fund the loan and make any necessary payoffs within three weeks. And, you’ll face lower closing costs than you’d find elsewhere because our unique business model allows us to offer pricing that can meet or exceed any competitor in the industry, guaranteed.

Find out in 3 Minutes or Less if a GoodLife Reverse
Mortgage is Right For You.

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