Reverse Mortgages & Your Credit

How does your credit impact your ability to get a reverse mortgage? Can you be denied a reverse mortgage if you have bad credit? Will you get a better reverse mortgage if you have good credit? I'll answer these questions and more in this video.
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If you or someone you know has questions about a reverse mortgage, give me a call. I'm always happy to educate you about your options and help you determine if a reverse mortgage is a good fit.
We are currently licensed in Arizona, California, and Colorado.
Taryn Proctor
[phone]
rheadvisors.com
[e-mail]
NMLS: 1457445 | DRE: 02116203
Branch NMLS: 2134579

[@RichardZimmerman-yh8ml]

Very useful information

[@johnqlunchbucket]

👍

[@larrymanley7170]

I’m wondering how is a borrower’s credit affected by obtaining a reverse mortgage ?

[@reversemortgageeducation]

Hi Larry. A reverse mortgage isn’t actually reported on a borrowers credit. So in that sense, it doesn’t affect it. But, keep in mind, throughout the transaction, your credit will need to be pulled and if you have a mortgage, that would get paid off and that account would be closed. So, that may have some affect on credit. Hope that helps!