• Login
  • Contact

877-217-0166

1st Reverse Mortgage USA1st Reverse Mortgage USA1st Reverse Mortgage USA
Menu
  • Home
  • Consumer Info
    • Reverse Mortgage
    • Benefits
    • Reverse Mortgage Process
    • 10 Things to Know
    • 10 Simple Steps
    • Reverse Mortgage FAQs
    • Reverse Mortgage Myths
    • HECM
    • NRMLA
  • H4P
    • Builders
    • Financial Professionals
    • Realtors
    • H4P FAQ
  • Home Loans
    • FHA
    • VA
    • USDA
    • Conventional
    • Refinance
  • Refinance
  • Loan Officers
  • Partner
    • Bank
    • Broker
    • Builder
    • Correspondent
    • Credit Union
    • Financial Advisor
    • Realtor
    • Wholesale
  • Join Us
  • About Us
    • Articles
    • News
    • FAQ

Can revolving debt be paid off at closing using HECM proceeds for a borrower to meet the residual income guidelines?

HPeterson

Share this post

No, debt cannot be paid off at closing with the HECM. If borrower needs to pay off debt to qualify they would need to pay off the obligations, with their own funds prior to close.

Discover Reverse Mortgage

Contact us today for a free, personal consultation.

877-217-0166

LEARN MORE

Search

Recent Posts

  • Smart Real Estate Agents Focus on Baby Boomer Needs
  • Jack’s Zero Monthly Mortgage Payment* Home Purchase (H4P)
  • Reverse Mortgage Purchase Power Unites Family
  • Smart Realtors Focus on Baby Boomer Needs
  • Life Changing Case Study: How using a Reverse Mortgage changed Robert’s Life
Copyright ©2021 Cherry Creek Mortgage, LLC
NMLS #3001
dba 1st Reverse Mortgage USA

NMLS Consumer Access >>
Privacy Policy >>
CCPA >>
Usage Policy >>
Disclosures >>
CFBP Website >>
Foreclosure Information – Reverse Mortgages »

All Rights Reserved. Some loan products may not be available in all states. Terms, rates, and fees subject to change. Please speak with one of our loan originators for more detail.

Membership logos: NRMLA, CMLA, Texas Bankers Association, Equal Housing Lender logos

1st Reverse Mortgage USA
3609 S Wadsworth Blvd Suite #500,
Lakewood, CO 80235
(877) 217-0166

Site Shortcuts

Home

About Us

Contact Us

H4P

Home Loans

Join Us

Loan Officers

Partner

Refinance

Login

____

Reverse Mortgage

Bank

Broker

Correspondent

Credit Union

Wholesale

Builders

Financial Professionals

Realtors

Privacy Policy