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Reverse Mortgage Checklist (HECM)

HECM and Senior Home-Equity Resource

Streamline your HECM reverse mortgage application with our comprehensive document checklist. For homeowners 62 and older, counselors, and HECM lenders. Collect the HUD counseling certificate, age and identity documents, property ownership and payoff, financial-assessment items (income, taxes, insurance, HOA), and occupancy so the lender can underwrite proceeds and residual-life obligations.

Reverse Mortgage Checklist (HECM) form template preview

Key Benefits

Complete HUD-required counseling before application
Document age, identity, and occupancy for all borrowers
Gather property, existing mortgage, and insurance items
Prepare the HECM financial assessment package
Reduce conditions on taxes, insurance, and residual income
Professional reverse-mortgage workflow

Common Use Cases

Homeowners 62+ applying for a HECMHECM counselors preparing clients for the lender fileLoan officers originating fixed or adjustable HECMsBorrowers using a HECM to pay off an existing mortgageSurviving spouses documenting eligibilityFinancial advisors reviewing HECM vs. a HELOC

Frequently Asked Questions

What is a HECM reverse mortgage?
A Home Equity Conversion Mortgage is an FHA-insured reverse mortgage for homeowners 62 and older. You can take a line, lump sum, or tenure payments. The loan is typically repaid when you sell, move out, or pass away. You must keep paying taxes, insurance, and required HOA dues.
What documents are required for a HECM?
HUD counseling certificate, photo ID and proof of age, deed and existing mortgage payoff, homeowners insurance, tax and HOA status, and financial-assessment docs (income, credit, residual income). A lender-ordered appraisal sets the principal limit.
Is HUD counseling required?
Yes. You must complete counseling with a HUD-approved reverse-mortgage counselor and provide the certificate before the lender can proceed. Counseling covers costs, obligations, and alternatives. Certificates expire, so time the session to your application.
What is the HECM financial assessment?
Lenders review credit, residual income, and property-charge payment history (taxes, insurance, HOA). Weak residual income or late property charges can require a life-expectancy set-aside from proceeds. Our checklist gathers the statements underwriters use for that test.

Checklist

Counseling

HUD-approved reverse mortgage counseling certificate
Required

Required before the lender can originate. Watch the certificate expiration date.

Application

HECM application and disclosures for all borrowers
Required

All borrowers must be 62+. Non-borrowing spouse rules if applicable.

Occupancy certification and any trust or life-estate documents
Required

Trusts and life estates need extra legal review before closing.

Identity

Photo ID and proof of age for each borrower
Required

Driver's license, passport, or birth certificate as the lender specifies.

Property Documentation

Deed, existing mortgage statement, and payoff authorization
Required

Must occupy as principal residence. Liens affect principal limit.

Evidence taxes, HOA, and homeowners insurance are current
Required

Delinquent property charges drive set-asides or denial.

Financial Assessment

Income, credit, and residual-income documentation
Required

Pay or benefit statements, tax transcripts if required, and credit authorization.

Valuation

FHA appraisal (lender-ordered)
Required

Establishes maximum claim amount and principal limit.