Licensing & Disclosures
Simply Approved Mortgages LLC | NMLS #2620881
Florida Branch Office (Miami, FL) | Branch NMLS #2688012
Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration
Business Phone: (877) 813-7219
Equal Housing Opportunity
Broker identification. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans with third-party lenders and do not make the lender's final credit decision or fund the loan. We arrange residential mortgage loans in Florida and Colorado.
Reverse mortgages are loans. A reverse mortgage is a loan secured by your home and is not free money or a government benefit. Interest and applicable fees are added to the loan balance, which generally increases over time. The loan must eventually be repaid. You retain title to your home, subject to the mortgage or lien securing the reverse mortgage.
HECM loans. A Home Equity Conversion Mortgage (HECM) is a reverse mortgage insured by the Federal Housing Administration (FHA), part of the U.S. Department of Housing and Urban Development (HUD). HECMs are generally available to homeowners age 62 or older who meet applicable program, property, occupancy, financial assessment, counseling, and other eligibility requirements. FHA insurance protects the HECM program and provides certain protections; it does not constitute government approval of the borrower or endorsement of Simply Approved Mortgages LLC.
Borrower obligations. HECM borrowers must continue to satisfy applicable loan obligations, including occupying the property as their principal residence, paying property charges such as property taxes and homeowners insurance when due, and maintaining the home in accordance with applicable requirements. Other property charges may also apply, including flood insurance, condominium or homeowners association charges, ground rents, or assessments where applicable. Failure to satisfy applicable loan obligations may cause the loan to become due and payable and could result in foreclosure.
Repayment. A HECM generally becomes due and payable when the last applicable borrower dies, sells the home, or no longer occupies the property as a principal residence, subject to applicable HUD requirements and protections, including certain protections that may apply to an eligible non-borrowing spouse. A HECM may also become due and payable earlier if applicable borrower obligations are not satisfied.
Independent counseling. HECM borrowers are required to complete counseling with a HUD-approved housing counseling agency as part of the HECM process. The counseling agency is independent of Simply Approved Mortgages LLC and the lender. Consumers may select an eligible HUD-approved counselor.
Credit and program terms. All reverse mortgage loans are subject to applicable program requirements, lender approval, financial assessment, acceptable appraisal, title review, property eligibility, insurance, counseling requirements where applicable, and supporting documentation. Available proceeds, rates, fees, mortgage insurance premiums, closing costs, payment options, and terms vary based on borrower age, property value, existing liens, interest rates, program requirements, lender, and other applicable factors and may change without notice. Nothing on this site constitutes loan approval, a rate lock, an offer, a commitment to lend, or a guarantee of proceeds, terms, or closing.
Rates, proceeds and calculators. Reverse mortgage proceeds, principal-limit estimates, home values, available equity, rates, loan balances, costs, and other calculator or scenario results displayed on this site are estimates or illustrations unless expressly stated otherwise. Actual proceeds and terms may differ. Calculator results do not constitute an appraisal, loan approval, rate lock, commitment to lend, or guarantee. Advertised rates, proceeds, payments, costs, and other credit terms are subject to the assumptions and disclosures presented with the applicable advertisement.
Government affiliation. Simply Approved Mortgages LLC is not a government agency and is not affiliated with, acting on behalf of, sponsored by, or endorsed by HUD, FHA, or any other federal, state, or local government agency. References to HUD, FHA, HECM, government programs, data, forms, or resources are provided for informational purposes and do not imply government sponsorship or endorsement of Simply Approved Mortgages LLC.
No professional advice. Site content is educational and general in nature and is not legal, tax, accounting, estate-planning, financial, investment, or government-benefits advice. Reverse mortgages may have financial, tax, estate, inheritance, and public-benefit considerations. Consumers should consult appropriate qualified professionals regarding their individual circumstances.
Fair lending. Equal Housing Opportunity. Simply Approved Mortgages LLC conducts business in accordance with applicable federal and state fair-housing and equal-credit-opportunity laws and does not discriminate on any prohibited basis.
Third-party content. References or links to HUD, FHA, government agencies, lenders, counseling agencies, products, services, or other third-party websites are provided for informational purposes or convenience. Simply Approved Mortgages LLC does not control and is not responsible for third-party content, availability, accuracy, or privacy practices.
NMLS Consumer Access: Verify Simply Approved Mortgages LLC, NMLS #2620881.
