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 5 reverse mortgage specialists in Mountain Brook, 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.
Guild Mortgage - Adam Snable
2700 US-280 Suite 290e, Mountain Brook, AL 35223
2053709231
Guild Mortgage - Casey Parsons
2700 US-280 Suite 290e, Mountain Brook, AL 35223
2052092795
Guild Mortgage - Michael Meyer
2700 US-280 Suite 290e, Mountain Brook, AL 35223
2058763939
Guild Mortgage Company
2700 US-280 Suite 290e, Mountain Brook, AL 35223
2052088177
Guild Mortgage - Bryan Goldman
2700 US-280 Suite 290 E, Mountain Brook, AL 35223
2059089782
What Does a Reverse Mortgage Specialist in Mountain Brook Cost?
Typical costs for a reverse mortgage in Alabama include an origination fee up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees such as appraisal and title search. Total closing costs often range from 5000 to 12000 dollars depending on the loan amount and property value. This is general information, 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 property requirements for a reverse mortgage in Mountain Brook?
Borrowers must be at least 62 years old. The home must be the primary residence and meet HUD property standards. Single-family homes, FHA-approved condos, and manufactured homes built after 1976 are generally eligible in Mountain Brook.
Do I need counseling before getting a reverse mortgage in Alabama?
Yes. Alabama law requires all borrowers to complete a counseling session with a HUD-approved agency before applying. The session covers loan terms, costs, and alternatives. This must happen at least 7 days before closing.
Can I lose my home with a reverse mortgage in Mountain Brook?
Yes if you fail to pay property taxes, homeowners insurance, or maintain the home. Alabama law allows the lender to foreclose if these obligations are not met. Working with a specialist helps you understand these requirements.