Reverse Mortgage Counseling Checklist: Everything You Need to Prepare

Quick answer

To prepare for your HUD counseling session, have ready: a recent mortgage statement, your most recent property tax bill and homeowners insurance details, an estimate of your home's value, a list of your income sources and debts, and any reverse mortgage figures your lender has provided. Coming prepared keeps the session to about an hour and ensures the counselor can address your specific situation.

Preparation is the single biggest factor in having a productive, efficient HUD counseling session. Borrowers who come to counseling prepared — with the right documents and questions ready — finish in about an hour and leave with a clear picture of their options. Borrowers who come unprepared often need to schedule a follow-up or struggle to connect the general education to their specific situation. This checklist covers everything you need before you pick up the phone.

Talk to Reverse Mortgage Plus First (Highly Recommended)

Before scheduling your HUD counseling session, we recommend a free conversation with a Reverse Mortgage Plus advisor. In 20–30 minutes, we can: run a preliminary estimate based on your age and home value, explain how a reverse mortgage would work in your specific situation, answer your initial questions so you can focus your counseling session on what matters most to you, and give you a list of questions tailored to your goals to bring into the session. This preparation step is at zero cost and zero obligation — it simply makes your counseling session more productive. Call us or use the form on this page.

Documents to Gather Before Your Session

Have these in front of you when you call your counselor:

Most recent mortgage statement — shows your current loan balance, lender name, and monthly payment amount.
Property tax bill — the most recent bill showing your annual tax amount.
Homeowners insurance declarations page — shows your annual premium and coverage.
Home value estimate — a recent Zillow, Redfin, or county assessor estimate is sufficient; you do not need a formal appraisal at this stage.
Monthly income summary — total income from Social Security, pension, rentals, part-time work, or any other source.
HOA statement — if your home is in a community with HOA fees, the monthly amount.

Questions to Ask Your Counselor

General questions worth asking in every session: What are all the costs involved — upfront and ongoing? How will the loan balance grow over time, and what will my home equity look like in 10 or 20 years? What are my obligations as a borrower, and what happens if I can't meet them? What happens to my spouse or partner who lives in the home? What happens to the home for my heirs after I pass? What alternatives exist for someone in my financial situation? Are there any California-specific programs or protections I should know about?

Questions Specific to Your Situation

In addition to general questions, bring questions that reflect your specific goals: If you want to eliminate a mortgage payment — ask how much proceeds would be left after payoff. If you want a growing emergency fund — ask specifically about the HECM line of credit and how the growth rate works. If you have a spouse younger than 62 — ask about Non-Borrowing Spouse protections. If you have a condo — ask whether your condo is FHA-approved and what the implications are. If you have a high-value home — ask about proprietary reverse mortgages and whether the HUD limit applies.

After Your Session: Next Steps

After counseling you will receive your Counseling Certificate. From there:

Review your session notes and call Reverse Mortgage Plus with any follow-up questions.
Decide whether you want to proceed with an application — there is no obligation or pressure.
If you want to move forward, your Reverse Mortgage Plus advisor will guide you through the application, financial assessment, FHA appraisal, and closing.

The certificate is valid for 180 days — you have time to think and ask questions before committing.

Key takeaways

Borrowers who arrive prepared finish counseling in about an hour and leave with a clear picture.
Gather your mortgage statement, property tax bill, insurance declarations page, a home value estimate, and an income summary.
Bring written questions tailored to your goals — eliminating a payment, building a reserve, protecting a spouse under 62.
Don't sign loan documents or pay any fees (other than the counseling fee) before the session is complete.
Your certificate is valid for 180 days — you have time to think it over without pressure before committing.

Frequently asked questions

Do I need to have all these documents to schedule counseling?

No — you schedule the appointment first and gather documents before the session. Most agencies schedule appointments 2–7 days out, giving you time to pull everything together. Focus especially on your mortgage statement, tax bill, and insurance page.

What if I don't know my home's value?

A rough estimate is fine for counseling. Check Zillow, Redfin, or your county assessor's website for a current estimate. For counseling purposes, the exact value is less critical — the counselor is educating you about the process, not running your final numbers. The formal FHA appraisal happens later, after you apply.

Can Reverse Mortgage Plus help me prepare specific questions before my counseling session?

Yes — this is one of the most valuable things we do for prospective clients. In a free pre-counseling consultation, we will discuss your goals and generate a personalized list of questions to bring into your session. Contact us before your counseling appointment.

Is there anything I should NOT do before counseling?

Do not sign any loan documents or pay any fees (other than the counseling fee to the agency) before completing counseling and receiving your certificate. A reputable lender or broker will never ask you to commit or pay anything before counseling is complete.