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Compare reverse mortgage specialists in Pelham. Review contact information and insurance categorys before you decide.
2 agents listed
Updated May 2026
Pelham, AL
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 2 reverse mortgage specialists in Pelham, 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.
Welcome Home Mortgage
2715 Pelham Pkwy Ste A, Pelham, AL 35124
2053583423
First Custom Mortgage Inc
2166 Pelham Pkwy, Pelham, AL 35124
2054440990
What Does a Reverse Mortgage Specialist in Pelham Cost?
Reverse mortgage specialist costs in Alabama typically include an origination fee capped at 2 percent of the first 200000 of home value plus 1 percent of the amount above 200000. Upfront mortgage insurance premium is 2 percent of the appraised value. Third-party fees for appraisal title search and credit report range from 500 to 1500. Annual mortgage insurance premiums are 0.5 percent of the loan balance. Total closing costs usually fall between 3000 and 8000 for a standard HECM loan in Pelham. 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 requirements for a reverse mortgage in Pelham Alabama?
Borrowers must be at least 62 years old. If married the younger spouse must also be 62 to be on the loan. Alabama law follows federal HUD guidelines for the Home Equity Conversion Mortgage program.
Do I need to own my home free and clear to qualify for a reverse mortgage in Pelham?
No you do not need to own the home free and clear. You can use a reverse mortgage to pay off an existing mortgage. The remaining equity after payoff becomes available to you. Alabama homestead laws may affect how much equity you can access.
What costs are associated with a reverse mortgage specialist in Pelham Alabama?
Typical costs include an origination fee up to 2 percent of the home value a mortgage insurance premium of 2 percent upfront plus annual premiums and third-party fees for appraisal title and counseling. Alabama closing costs generally range from 2000 to 6000 depending on home value.
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About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state mortgage licensing authority records, and business listings. Inclusion does not constitute endorsement. We do not verify broker licensing, disciplinary status, or qualifications. Verify each broker's current standing with the Alabama.