Steps to getting a Reverse Mortgage

Below is the most common process for getting a reverse mortgage. Our professionals are eager to help you understand the reverse mortgage process. Please contact us with any questions.

Step 1 - Research Reverse Mortgages
Speak with a mortgage professional about reverse mortgage options. Familiarize yourself with the various types of reverse mortgages and pick the one that is right for you.

Step 2 - Meet with a HUD approved counselor
In order to receive a reverse mortgage you must meet with an HUD approved councilor who will help you understand what it means to have a reverse mortgage. This is free to do and we can help find a councilor in your area.

Step 3 - Fill out our Reverse Mortgage application
After you’ve determined which program best suits you fill out our reverse mortgage application by clicking here. Your information is securely stored and transmitted.

Step 4 - Your application is processed and your home is appraised
While your application is being processed a licensed appraiser will determine if your house needs any kind of repair. Any problems must be fixed before you can be approved.

Step 5 - Your loan reaches underwriting
All details are worked out and your loan is underwritten. Additionally it will be determined whether you’ve been approved or not.

Step 6 - Your loan reaches closing
Once you are approved your loan will enter closing where you’ll get the chance to review the terms and sign the paperwork.

Step 7 - Receive your payments
After closing you’ll have three business days in which to cancel the loan. Once that grace period is up, you’ll start to receive either your monthly payment or your lump sum.

Step 8 - Repaying your Reverse Mortgage
Your reverse mortgage loan becomes due under the following circumstances.

  • Homeowner death
  • Sale of home
  • The home is no longer your primary residence
  • An event of default. Click here to learn more.

Main Office (Sidney)

733 Fair Rd.
Sidney, Ohio 45365

Lebanon Branch

901 N Broadway
Lebanon, Ohio 45036

Mason Branch

7577 Central Parke Blvd Suite 314
Mason, Ohio 45040


Phone: 800-736-8485
Fax: 937-497-9020
Email: Trose@westernohiomortgage.com
NMLS: 9601
We are licensed in the following states: Ohio: MB-801814.000, Indiana: 15536, Florida: MLD154, Kentucky: MB72955; 

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