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Disclaimers

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Important disclosures about reverse mortgages, our estimates, and this website. Last updated: January 2, 2026.

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Government affiliation

Simply Approved Mortgages and Simply Approved Mortgages are not affiliated with, endorsed by, or acting on behalf of the U.S. Department of Housing and Urban Development (HUD), the Federal Housing Administration (FHA), the Consumer Financial Protection Bureau (CFPB), or any other government agency.

Not an offer of credit

This is not a commitment to lend. All loans are subject to credit, income, property, title, and appraisal review, and to program guidelines set by HUD, FHA, and the funding lender. Program terms, principal limit factors, and interest rates change and are not guaranteed.

Reverse mortgage borrower obligations

With a reverse mortgage, the borrower must continue to pay property taxes, homeowners insurance, HOA dues (if any), and required property maintenance, and must keep the home as the principal residence. Failure to meet these obligations can cause the loan to become due and payable and may result in foreclosure. A reverse mortgage is a loan that must be repaid when the last borrower or eligible non-borrowing spouse dies, sells the home, or permanently moves out.

Impact on heirs and equity

A reverse mortgage reduces the equity available to you and your heirs over time because interest and fees are added to the loan balance each month. The HECM program is non-recourse: heirs will never owe more than the home's appraised value at the time the loan is repaid.

Information on this site is educational and general in nature. It is not tax, legal, investment, or financial advice. Loan proceeds are generally not treated as taxable income, but the impact on means-tested benefits such as Medicaid or SSI can vary. Consult a qualified tax advisor, attorney, and benefits counselor for your specific situation.

Calculator & home value estimates

Estimates produced by our calculator are illustrative only and based on inputs you provide plus current published HUD HECM parameters. Home value estimates are provided by third-party Automated Valuation Models (AVMs) such as RentCast and are not appraisals. Actual loan amounts require an FHA-approved appraisal.

Testimonials & examples

Any customer stories, examples, or scenarios on this site are illustrative. Your results will depend on your age, home value, interest rate, and program elected.

Equal Housing Opportunity

Simply Approved Mortgages is an Equal Housing Opportunity brokerage. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

Third-party content

Links to third-party websites (HUD, CFPB, FTC, NRMLA, NMLS Consumer Access, and others) are provided as a convenience. We do not endorse and are not responsible for content on those sites.

When you submit our lead form, calculator, or any contact form, you provide express written consent for Simply Approved Mortgages and its agents to contact you at the phone number(s) and email address(es) you provide — including your wireless number — by live call, prerecorded or artificial voice, SMS/MMS text, email, and AI-assisted voice, chat, and follow-up, even if your number is on a Do Not Call registry. Consent is not a condition of any purchase. You may opt out at any time by replying STOP to SMS, clicking unsubscribe in any email, emailing our contact form, or calling 877-813-7219. Message and data rates may apply. See our Privacy Policy for full details.

Use at your own risk

Your use of this site and its calculators is at your sole risk. All content is provided "as is" and "as available" without warranties of any kind. Nothing on this site creates a client, advisory, or lender-borrower relationship between you and Simply Approved Mortgages LLC, and no figure on this site — including any calculator estimate, home value estimate, or AI-assisted chat response — should be relied upon as a promise, quote, approval, or commitment. Decisions made in reliance on this site are made at your own discretion and risk; verify every figure with a licensed loan officer, a HUD-approved counselor, and, where relevant, a tax advisor or attorney before acting.

AI-assisted content & human review

Portions of this site, including our chat assistant ("Sam") and portions of our written and visual content, may be produced or assisted by artificial intelligence. AI tools can make mistakes, produce outdated figures, or misunderstand your situation. AI output is not a source of truth, is not a representation or promise by Simply Approved Mortgages, and is never a substitute for a licensed loan officer, HUD-approved counselor, or qualified professional.

Material AI-assisted content is held for human review before publication. However, human review is a good-faith process, not a guarantee: reviewers are human, and errors, omissions, or outdated figures can pass through review undetected. To the maximum extent permitted by law, Simply Approved Mortgages LLC andSimply Approved Mortgages accept no liability for any error, inaccuracy, omission, or outdated information in AI-assisted content — whether or not it has been reviewed — or for any decision, loss, or damage arising from reliance on any content on this site. The only reliable figures are those provided to you directly in writing by a licensed loan officer. If you spot an error, please tell us via our contact form so we can correct it.

Limitation of liability

To the maximum extent permitted by law, Simply Approved Mortgages LLC, Simply Approved Mortgages, and their officers, employees, agents, and affiliates shall not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or any loss of profits, revenue, data, or use, arising out of or relating to your use of this site, our tools, or any information provided — including but not limited to errors, inaccuracies, or omissions in any content, calculator output, estimate, or AI-assisted material, whether or not such content has undergone human review — whether based in contract, tort, strict liability, negligence, or otherwise, even if advised of the possibility of such damages. Your sole remedy for dissatisfaction with this site is to stop using it. Some jurisdictions do not allow certain limitations, so portions of this limitation may not apply to you.

Contact Us

If you have questions about these disclaimers, please contact us:

Included with your estimate

Get your Reverse Mortgage Estimate Summary.

Complete the short estimate form and we send back a full HECM summary: your estimated principal limit, complimentary home value estimate, payoff of any existing mortgage, and estimated proceeds available to you.

  • Complimentary home value estimate
  • Estimated principal limit for your age
  • Existing mortgage payoff included
  • Lump sum, line of credit, or monthly options
Get my estimateTakes about 3 minutes · Summary emailed and shown on screen

Illustration only, generated from the information you enter. Not a loan estimate, pre-qualification, commitment to lend, or approval. Subject to HUD counseling, appraisal, credit and income review, and final lender approval. You remain responsible for property taxes, insurance, and home maintenance.

Estimate summary

Home value estimate
$412,000
Youngest borrower age
72
Estimated principal limit
$219,400
Existing mortgage payoff
$68,000
Estimated proceeds available
$151,400

Simply Approved Mortgages • NMLS #2620881 • Equal Housing Opportunity

State-specific disclosures (FL & CO)

Simply Approved Mortgages (NMLS #2620881) is a licensed mortgage brokerage currently authorized to originate reverse mortgage loans only in Florida (FL) and Colorado (CO). Applications, quotes, and estimates are accepted only from residents of these states. Verify our licenses at NMLS Consumer Access.

Florida (FL) disclosures

  • Regulated by the Florida Office of Financial Regulation (OFR) under Chapter 494, Florida Statutes, and the federal SAFE Act.
  • All HECM (Home Equity Conversion Mortgage) loans must comply with HUD/FHA requirements, including mandatory independent HUD-approved counseling before an application can be processed.
  • Borrower(s) must be age 62 or older, occupy the home as their primary residence, and remain current on property taxes, hazard/flood insurance, HOA dues, and required home maintenance. Failure to meet these obligations may result in the loan becoming due and payable.
  • A Florida reverse mortgage does not, by itself, affect the Florida Homestead property tax exemption so long as the borrower continues to occupy the home as their primary residence.
  • Consumer complaints may be filed with the Florida OFR at flofr.gov or by calling 1-850-487-9687.

Colorado (CO) disclosures

  • Regulated by the Colorado Division of Real Estate — Mortgage Loan Originator Licensing under C.R.S. § 12-10-701 et seq. and the federal SAFE Act.
  • Reverse mortgages in Colorado are also subject to the Colorado Reverse Mortgage Act (C.R.S. § 11-38-101 et seq.), which requires HUD-approved counseling and specific consumer protections prior to closing.
  • Borrower(s) must be age 62 or older, occupy the property as their principal residence, and continue to pay property taxes, homeowners/flood insurance, HOA dues, and maintain the home. Failure to meet these ongoing loan obligations may result in the loan becoming due and payable.
  • Colorado law requires a statutorily prescribed cooling-off / rescission period after counseling before an application may be accepted. Your loan officer will confirm the applicable timing before you sign.
  • To verify a Colorado mortgage loan originator, visit dre.colorado.gov. Complaints may be filed with the Colorado Division of Real Estate at 1-303-894-2166.
  • Colorado required disclosure: "Regulated by the Colorado Division of Real Estate."

Contact & consumer notices (FL & CO residents)

By submitting a form, calculator estimate, or contact request, you confirm you are a resident of Florida or Colorado and provide express written consent for Simply Approved Mortgages and its agents to contact you at the phone number(s) and email address(es) you provide — including any wireless number — by live agent, prerecorded/artificial voice, SMS/MMS text, email, and AI-assisted voice, chat, or follow-up, even if the number is on any state or federal Do Not Call registry. Consent is not a condition of any loan or service. Message and data rates may apply. You may opt out at any time by replying STOP to any text, clicking unsubscribe in any email, or contacting us below.

Simply Approved Mortgages is a licensed mortgage brokerage (NMLS #2620881) and is not affiliated with, or acting on behalf of, HUD, FHA, or any other government agency. Reverse mortgage loans are funded by third-party HUD-approved HECM wholesale lenders. Equal Housing Opportunity.

Credit & pre-approval

Why we pull credit for your reverse mortgage pre-approval

HUD requires a Financial Assessment for every HECM reverse mortgage, including a review of your credit history and record of paying property taxes and homeowners insurance. As part of our standard broker/lender pre-approval process, we typically order a tri-merge credit report through a HUD-approved credit vendor to verify identity, review obligations, and confirm that you can continue paying property taxes, homeowners insurance, and maintenance after closing. Whether a tri-merge is required, and any fees, are set by the wholesale lender and credit vendor — not by HUD as a stand-alone rule.

Pay for your credit report — SmartPay

Simply Approved Mortgages uses SmartPay to securely collect the credit report fee for your reverse mortgage pre-approval. Payment goes directly to the credit vendor — not to us — and unlocks a tri-merge credit report (Equifax, Experian, TransUnion) that your loan officer uses to complete the broker/lender pre-approval file for HUD's Financial Assessment.

  • Secure, PCI-compliant checkout hosted by SmartPay
  • Standard step in our broker/lender pre-approval process (not a HUD stand-alone requirement)
  • Optional — you can decline; your loan officer will explain any impact on your options
Pay for credit report securely

You'll be redirected to cic.cra.xedalink.net (SmartPay).

Check your credit first — $1 trial at MyITINCredit

Before you apply, it's smart to know exactly where your credit stands. MyITINCredit offers a $1 trial for 15 days that includes all three credit reports and scores (Equifax, Experian, TransUnion), plus ongoing credit monitoring so you can catch errors, dispute inaccuracies, and watch for identity theft.

  • See all 3 bureau reports & scores before your lender does
  • Ongoing monitoring alerts you to new accounts or score changes
  • Fix errors early — cleaner credit can widen your reverse mortgage options
Start $1 / 15-day trial

You'll be redirected to myitincredit.com. Third-party service — terms apply.

Credit report fees are paid directly to the credit vendor. Simply Approved Mortgages (NMLS #2620881) does not receive compensation from these credit services. MyITINCredit is an independent third-party service; pricing, terms, and features are set by that provider.

Add Simply Approved Mortgages as a preferred source on Google

If our reverse mortgage explainers are useful to you, Google lets you choose which publishers you see more of. In Google Search, run a search on a topic you follow, open Preferred sources from the Top stories panel, search for Simply Approved Mortgages, and select it. The setting lives in your own Google account, applies only to what you see, and can be changed or removed at any time.

How preferred sources work in Google Search →

Simply Approved Mortgages is not affiliated with, endorsed by or approved by Google, and selecting a preferred source does not change search rankings for anyone else.