Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the Alabama before hiring.
Showing 8 reverse mortgage specialists in Athens, AL
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Tower Loan
639 US Hwy 72 W, Athens, AL 35611
2562626838
Security Finance
600 S Jefferson St G, Athens, AL 35611
2567712903
Courtesy First Home Lenders
110 N Marion St, Athens, AL 35611
2562160202
First State Loans of Athens Inc
622 S Jefferson St, Athens, AL 35611
2562323800
Alabama Farm Credit- Athens
26243 US-72, Athens, AL 35613
2562320344
Home Mortgage of America Inc
101 Cloverleaf Dr, Athens, AL 35611
2562301151
Synovus Mortgage
301 W Washington St, Athens, AL 35611
2567747031
Amy Osborne - Regions Mortgage Loan Officer
1101 US Hwy 72 E, Athens, AL 35611
2565356946
What Does a Reverse Mortgage Specialist in Athens Cost?
Typical costs for a reverse mortgage specialist in Alabama include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third party fees for appraisal, title search, and recording. Total closing costs often range from 5,000 to 15,000 dollars depending on the home value and loan type. This is general information and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What are the age and equity requirements for a reverse mortgage in Athens Alabama?
Borrowers must be at least 62 years old. The home must be your primary residence and you must have significant equity. Alabama law does not set a minimum equity amount but HUD guidelines typically require at least 50 percent equity.
Do I need to attend counseling for a reverse mortgage in Alabama?
Yes. Alabama law requires all reverse mortgage applicants to complete a counseling session with a HUD approved counselor. This session must occur before you submit your loan application. The counselor will explain costs, repayment terms, and alternatives.
Can I lose my home with a reverse mortgage in Athens Alabama?
Yes if you fail to meet loan obligations. You must continue to pay property taxes, homeowners insurance, and maintain the home. Alabama law allows the lender to foreclose if you do not comply. The loan becomes due when you sell the home, move out permanently, or pass away.