Reverse Mortgage Live Transfers / HECM Live Transfer Leads

1. We ensure that the property value range is 100,000 and above by checking the property’s value estimate on the property value estimate search engines on the web.
2. Nationwide or state-wide as required.
3. We verify that the property is owner occupied and is the borrower’s primary residence.
4. We verify that the Loan to Value is 70.70% or below keeping in mind the age of the youngest borrower.
5. We also ensure that the borrower is ready to speak to a Loan Officer about getting an HECM.
6. We also ensure that at least one of the borrowers is living in the same property and is current on their home owner’s insurance and property taxes.
7. We ensure that at least one of the borrower’s is 62 years or older except in TX where both the borrower’s need to be 62 or older.
8. We ensure that the property is a single family house or a 1 to 4 family house, and if it’s a condominium it’s approved by the FHA.
9. We ensure that if we are speaking to a borrower who is currently in a Manufactured property, then it’s a double wide and is greater than 750 square feet, along with that the borrower owns the land that the home is located on and the house has never been moved.
10. The Loan to Value range is based on the greater of the estimated home value or maximum claim amount of $1,149,825.00 – whichever is less.

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