How To Apply

Table of Contents:
  I. Standard Mortgage II. Reverse Mortgage  
 
How to Apply - Standard Mortgage
After you have reviewed our website and now understand the loan process, you are ready to determine which loan programs you qualify for. Apply Online Now or a telephone prequalification process is quick and easy - just 5 minutes on the phone to gather the information and we can prequalify you for your own Mortgage Loan. The process is so easy you can call on your lunch break or even from your cell phone with the information in front of you or previously written down.
 
You will not need to visit our office or fax over any documentation at this stage of the prequalification process. However, to accurately evaluate your loan options, we will need you to provide just a few facts about your financial life. Before you call, please make sure you have the following numbers ready by jotting them down or having the actual documents in front of you:
 
  • The amount of total earnings for the last two years. The largest dollar amount should be taken directly from your last two years W-2 Forms and the most recent paystub with the year to date information.
  • If applicable, the amount of your yearly salary. This number should be supported from your most recent paystub stating salary on the weekly amount or a salary contract.
  • The amount of reserve cash you would have available if needed. This cash could come from a variety of sources, including a checking and savings accounts, a 401K and/or pension fund, or an asset account such as with Merrill Lynch, etc.. Stating this figure does not dictate your down payment or the amount of money that you will have to spend at closing, but rather, it will give us a chance to review your total asset position and apply it to the lending market regarding cash reserves and seller's concession toward buyer's closing costs.
 
You will not need to provide us with any documentation at this time. However, it is important that the numbers you provide are reported exactly as they appear on the paystub, W2 form or account statements. Accurate information will speed the process and give you the best idea of which mortgage option is right for you. Getting started couldn't be simpler - just jot down your income/asset numbers and give us a call.
 

Please call 609-641-9008 for your Prequalification Interview today!
We look forward to assisting you in your financing needs.
 

How to Apply - Reverse Mortgage Apply Online Now

Unlike the Standard Mortgage process, the Reverse Mortgage guidelines do not require any income information, a very limited credit report and of course no out of pocket charges, except the appraisal fee paid directly to the appraiser. Prior to paying the appraisal, we contact local professionals in the field to ascertain the range of value of your property so when we calculate the program options the value will correspond with the final appraisal so no money is spent without results.

What we basically need is the names and personal information on the Borrowers and the property address and description. There is a computer program that takes care of the rest and we sit down personally and explain the many options that are available to you. After you fully understand the program and are ready to move forward, the government demands for your protection that the Borrowers comply with counseling with the AARP, HUD or a privately designated counseling service so they are FULLY aware of what the program is all about. All of these organizations have extreme Privacy Policies as demanded by law.

The rest of the process is signing the application, our packaging and presentation, and a standard settlement just like a normal mortgage is handled. We, of course, walk you through the entire process including at the table in the final closing.

We here at Mr Mortgage Inc., as well as the entire marketplace, are very excited about this incredibly beneficial program for our senior citizens. We invite you to inquire if you qualify and have an interest in stabilizing your financial security.