Form 1009 - Reverse Mortgages: Fill out & sign online

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

The easiest way to modify Form 1009 - Reverse Mortgages in PDF format online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Adjusting documents with our comprehensive and intuitive PDF editor is simple. Make the steps below to complete Form 1009 - Reverse Mortgages online quickly and easily:

Log in to your account. Log in with your email and password or create a free account to try the service prior to upgrading the subscription.
Import a form. Drag and drop the file from your device or add it from other services, like Google Drive, OneDrive, Dropbox, or an external link.
Edit Form 1009 - Reverse Mortgages. Quickly add and highlight text, insert pictures, checkmarks, and signs, drop new fillable areas, and rearrange or remove pages from your document.
Get the Form 1009 - Reverse Mortgages accomplished. Download your modified document, export it to the cloud, print it from the editor, or share it with other people using a Shareable link or as an email attachment.

Benefit from DocHub, one of the most easy-to-use editors to quickly manage your documentation online!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Contact us

What are the 4 basic documents that are given to the borrower for a reverse mortgage?

Valid identification. Verification that the property is your principal address. Proof of income that shows you have enough money to pay property taxes and homeowners insurance. Certificate that you have undergone reverse mortgage loan counseling.

Do you need proof of income for a reverse mortgage?

You can verify income through items such as a social security award letter, W2s, or statements from your bank. Before you can obtain a reverse mortgage, youre required to take part in a counseling session with a mortgage counselor approved by the U.S. Department of Housing and Urban Development (HUD).

Do you have to pay taxes on reverse mortgage?

No, reverse mortgage payments arent taxable. Reverse mortgage payments are considered loan proceeds and not income. The lender pays you, the borrower, loan proceeds (in a lump sum, a monthly advance, a line of credit, or a combination of all three) while you continue to live in your home.

What is a 1009 in reverse mortgage?

For the borrowers application, an FHA-insured reverse mortgage (Home Equity Conversion Mortgage or HECM), the lender must use the Residential Loan Application for Reverse Mortgages (Fannie Mae Form 1009).

What documents are required for a reverse mortgage?

What Documents Do You Need For a Reverse Mortgage? Credit check authorization. Deed or title. Current mortgage statements. Home equity loan or HELOC statements. Proof of satisfaction of mortgage. Property tax statements and receipts. Homeowners insurance policy and statements. Home maintenance documentation.

Related forms

be ready to get more

Complete this form in 5 minutes or less

Get form

What info is needed for a reverse mortgage?

Reverse mortgages have two primary qualification criteriayou must be at least 62 years old and you must own a docHub amount of equity in your home. While the specific percentage of equity required varies across lenders, typically youll need 50%.

What properties do not qualify for a reverse mortgage?

Since your property must be considered your primary residence, vacation homes and secondary homes do not qualify for the reverse mortgage loan. In addition, homes on income-producing land, such as a farm, are not eligible. A reverse mortgage loan must be the primary lien on your home to qualify.

Does the bank take your house in a reverse mortgage?

No. When you take out a reverse mortgage loan, the title to your home remains with you. Most reverse mortgages are Home Equity Conversion Mortgages (HECMs). The Federal Housing Administration (FHA), a part of the Department of Housing and Urban Development (HUD), insures HECMs.

Get the up-to-date Form 1009 - Reverse Mortgages-2024 now

Here's how it works

The easiest way to modify Form 1009 - Reverse Mortgages in PDF format online

Complete this form in 5 minutes or less

Got questions?

What are the 4 basic documents that are given to the borrower for a reverse mortgage?

Do you need proof of income for a reverse mortgage?

Do you have to pay taxes on reverse mortgage?

What is a 1009 in reverse mortgage?

What documents are required for a reverse mortgage?

Complete this form in 5 minutes or less

People also ask

What info is needed for a reverse mortgage?

What properties do not qualify for a reverse mortgage?

Does the bank take your house in a reverse mortgage?

Related links

Try more PDF tools