Getting a Loan

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Getting a Loan: Determining Your Needs and Goals

Before exploring the details of a reverse mortgage, it is helpful to build a framework of your particular needs and goals. By having a clear understanding of your current situation and future options, you can more easily identify if a reverse mortgage is an appropriate and viable financial solution for you.

Self-Assessment Questionnaire

Completing the worksheet below will help you assess your financial situation or financial issues you may be faced with now or in the future. These questions cover some of the common reasons reverse mortgages are used by seniors today.

  YES NO
1. Are your necessary living expenses becoming more of a challenge each month?    
2. Are you concerned about your ability to handle a large unexpected expense such as a health emergency?    
3. Do you want to supplement your savings to provide you income during your retirement?    
4. Are there home repairs or improvements that you would like to make that will enable you to live more comfortably?    
5. Is there a necessary purchase that you have delayed?    
6. Does your health insurance lack the coverage you need for your medical expenses?    
7. Do you rely on your family members or senior services for financial support?    
8. Do you have available home equity to access?    

If you have answered "YES" to any of the questions above you may be a good candidate for a reverse mortgage. We strongly encourage you to pursue other sources of information as well as share the information you discover in this online guide with your family, friends and/or trusted advisors.

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To speak with a Countrywide Reverse Mortgage Solutions Advisor, call 1-800-959-3789.