01
Learn the basics
Quickly understand what a reverse mortgage does: homeowners age 62+ can turn home equity into cash, keep living in the home, and don't make monthly mortgage payments. Talk with family or a trusted friend.
02
Contact Secure Lending Inc
Call or visit Secure Lending Inc to speak with a licensed reverse mortgage specialist. We'll explain options (lump sum, monthly payments, line of credit), interest, fees, and how this affects your home and heirs.
03
Mandatory counseling
Before a federally insured HECM can move forward, you must complete counseling with an approved reverse mortgage counselor. Counseling can be by phone, video, or in person. The counselor explains alternatives, costs, and how the loan affects benefits and heirs. You'll receive a counseling certificate - Secure Lending Inc needs this to continue.
04
Apply with Secure Lending Inc
After counseling, your Secure Lending Inc loan officer helps you fill out the loan application and gathers basic paperwork. The lender confirms you meet program rules and answers any questions.
05
Home appraisal & property checks
An independent appraiser inspects your home to determine its market value. Secure Lending Inc will also verify taxes, insurance, and any existing liens to make sure the home qualifies.
06
Receive a Loan Estimate
Secure Lending Inc provides a written Loan Estimate showing how much you can borrow, closing costs, and the payment options. Review it slowly - compare if you'd like to other offers.
07
Decide and schedule closing
If you accept the offer, the closing is scheduled. You'll sign final documents. There is a short window after closing when you can change your mind (rescission period) - your Secure Lending Inc officer will explain the timeline.
08
How you receive funds
At closing you choose how to get your money (lump sum, monthly, line of credit, or a mix). Closing costs are normally added to the loan balance so you typically don't pay them out of pocket.
09
Living with the loan
You keep living in your home. You must continue to pay property taxes, homeowners insurance, and maintain the property. If you move out permanently or pass away, the loan becomes due.
10
Repayment & heirs
When the loan is due (sale, permanent move, or death), the home is usually sold to repay the loan. Heirs can choose to repay the loan and keep the home, sell the home, or refinance. Secure Lending Inc can explain these options at any time.