Important disclosures
Brokerage identification. Simply Approved Mortgages (NMLS #2620881) is a licensed mortgage brokerage, not a lender. Reverse mortgage loans referenced on this site are originated and funded by third-party lenders approved by the U.S. Department of Housing and Urban Development (HUD) to issue Home Equity Conversion Mortgages (HECMs). License information can be verified through NMLS Consumer Access.
Not a commitment to lend. The information on this website, including the reverse mortgage calculator and any estimates, is provided for educational purposes only and does not constitute an offer, advertisement, or commitment to extend credit. All loans are subject to credit approval, property appraisal, FHA underwriting requirements, and HUD program rules. Rates, fees, lending limits, and product availability are subject to change without notice.
Borrower obligations. As a HECM borrower, you must continue to pay property taxes, homeowners insurance, any applicable HOA dues, and maintain the home in accordance with FHA requirements. Failure to meet these obligations may result in the loan becoming due and payable and could lead to foreclosure. You retain title to your home, but the lender places a lien for the loan balance.
Independent counseling required. Before a HECM application can be taken, federal law requires you to complete counseling with an independent counselor approved by HUD. You may select a counselor of your choice from the HUD-approved counselor list.
No tax, legal, or financial advice. Simply Approved Mortgages does not provide tax, legal, accounting, or investment advice. Reverse mortgage proceeds are generally not considered taxable income under current federal tax law, but tax treatment depends on your individual circumstances and may affect Medicaid, Supplemental Security Income (SSI), or other need-based program eligibility. Consult a qualified tax advisor, attorney, or benefits counselor before deciding to obtain a reverse mortgage. See IRS Publication 936 for general guidance.
State licensing. Licensed in Florida (FL) and Colorado (CO). Confirm availability when you request your free estimate. Loan products and program terms may vary by state. Simply Approved Mortgages is not affiliated with HUD, FHA, or any other government agency, and this website is not approved by or endorsed by any government agency.
Equal Housing Opportunity. Simply Approved Mortgages does not discriminate on the basis of race, color, religion, national origin, sex, familial status, age (provided the applicant has the capacity to contract), disability, or because all or part of an applicant's income comes from a public assistance program.
Editorial sources. Program rules, lending limits, and consumer-protection statements on this site are sourced from primary government and industry sources: HUD — HECM Program, HUD Mortgagee Letters, HUD — FHA Mortgage Limits, HUD — Find a HECM Counselor, FHA Resource Center, CFPB — Reverse Mortgages, CFPB — Right of Rescission, FTC — Reverse Mortgages, IRS Publication 936, NRMLA — National Reverse Mortgage Lenders Association, NMLS Consumer Access, HUD ML 2021-11 — Non-Borrowing Spouse, HUD HECM for Purchase Program (4000.1 Handbook), HUD — FHA Condominium Project Approval, HUD ML 2010-25 — HECM Counseling Fee Policy, SSA — Delayed Retirement Credits, IRS Publication 523 — Selling Your Home, CFPB / Regulation Z — TILA 3-Day Rescission, HUD USER — PD&R Datasets, HUD — FHA Single-Family Portfolio Snapshot, HUD — FHA Annual Report to Congress, HUD — American Housing Survey (AHS), HUD — USPS ZIP Code Crosswalk Files.
