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 Arkansas before hiring.
Showing 2 reverse mortgage specialists in Farmington, AR
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Chandra Beach (NEO Home Loans) NMLS 564277
140 Southwinds Rd Suite 134, Farmington, AR 72730
4794852150
Arvest Bank
110 E Main St, Farmington, AR 72730
4795751000
What Does a Reverse Mortgage Specialist in Farmington Cost?
Typical costs for a reverse mortgage in Arkansas include an origination fee of up to 2 percent of the home value (capped at $6,000), a mortgage insurance premium of 2 percent of the appraised value, and third-party fees such as appraisal ($400 to $800) and title insurance ($500 to $1,500). Closing costs generally range from $2,000 to $5,000 but vary by lender 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 requirements for a reverse mortgage in Farmington Arkansas?
Borrowers must be at least 62 years old to qualify for a reverse mortgage in Farmington. The youngest borrower on the title must meet this age requirement under federal HECM guidelines.
Do I need counseling before getting a reverse mortgage in Arkansas?
Yes, Arkansas law requires all reverse mortgage applicants to complete a counseling session with a HUD-approved counselor. This session covers loan terms, costs, and alternatives to ensure you understand the commitment.