There are many reasons a forward mortgage may not be the right fit for your borrower, so before passing up on the opportunity to serve them, consider a reverse mortgage.
A reverse can be used to refinance an existing mortgage, or purchase a new home. To get started, look at your leads where the youngest borrower is 62 or older, their home is their primary residence and it has at least 50% equity, and the borrower has no delinquent federal debt. Reach out to your leads to see if they’ve considered a reverse.
If you need help determining who in your lead list might be a good reverse candidate, review our helpful guide to discover more opportunities for potential leads.