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How to Become a Reverse Mortgage Counselor

how to become a reverse mortgage counselor


Reverse mortgages are gaining popularity in America. A reverse mortgage allows a senior homeowner to withdraw on the equity of their home without selling it. In order to receive the loan, the borrower must complete financial counseling using one of the 10 agencies the lender is required to provide. There are a number of steps necessary to become a certified housing counselor through the Association of Financial Counseling, Planning and Education.

Things You'll Need

  • Enrollment fee
  • Course fees
  • Proctoring Fees
  • 3 letters of reference
  • 1500 hours of applicable counseling experience

Step 1

Visit the website for the Association of Financial Counseling, Planning and Education ( and download a printable application form or apply online to be a certified housing counselor. At this point, you will be required to pay the enrollment fee and the course fees.

Step 2

Begin your first self-study course as it is sent to you. This certification requires three courses: Personal Finance, Financial Counseling and Housing Principles and

Practices. You will complete this program at your own pace.

Step 3

Send a completed Examination Request Form (included in your course materials) to AFCPE approximately two weeks before your preferred exam date. The test may be proctored at a community college or university of your choice.

Step 4

Take the examination. Each exam consists of 100 questions, of which 70 must be answered correctly to pass. The test will take approximately two hours to complete.

Step 5

Begin the second course. Upon successful completion of the first exam, the second course will automatically be sent to you. Repeat steps three and four to complete the second course, then repeat steps two through four to complete the third course.

Step 6

Submit three letters of reference to AFCPE affirming your professional character and abilities.

Step 7

Accumulate 1500 hours of admissible housing counseling experience. Acceptable forms include: one-on-one counseling or advising for clients, developing and conducting education and training for clients or financial counselors or supervising financial counselors.

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